MIL-OSI Australia: More Budget clangers for Dr Broad


Source: State of Tasmania Government

27 August 2021

Michael Ferguson, Minister for Finance

It continues to be a disastrous start for the new Shadow Treasurer Dr Broad.

The Shadow Treasurer is clearly having difficulty understanding the Budget Papers, just like his predecessor Mr O’Byrne (before the other short-term predecessor Ms White) who never understood them, either.

It is a fact: the Budget will return to surplus and will be back in the black over the Forward Estimates – Dr Broad is either completely naïve or he is choosing to deliberately misrepresent the facts.

The very first table in Budget Paper No 1 – Table 1.1 shows that the Budget will be returning to a Net Operating Surplus in 2023-24.

In 2023-24 the Net Operating Surplus is forecast to be $39.4 million, increasing to $126.8 million in 2024-25.

And as shown in Table 4.3, the Budget will have a cash surplus of $368.6 million in 2022-23.

The Budget Papers couldn’t be any clearer. What is clear, too, is that Dr Broad simply cannot read a Budget.

Rating agency S&P also confirmed the Budget shows an ‘improving economic outlook that is supporting a return to operating surpluses.”

Labor continues to be in chaos with no leadership on financial management, and no alternative plan for Tasmania.

All they know is how to criticise anything good for Tasmania and misrepresent the facts.

Despite Ms White’s proclamations that she would change the party, it’s still the same old Labor.

Tasmanians await with anticipation what any credible opposition would produce in response to a Government’s Budget – their Alternative budget.