The Liberal Government today announced it will cut net debt by $350 million in tomorrow's budget.
The Risks Report outlined that Labor and the Greens left $1.1 billion in cumulative deficits across the forward estimates with net debt expected to rise to more than $400 million in 2016-17.
Through responsible fiscal management, the Liberal Government will cut this figure to around $50M over the forward estimates period.
Labor and the Greens made promise after promise to deliver savings but failed to do so.
In the 2011-12 budget, then Treasurer Lara Giddings said;
"Budget projection show that Net Debt will peak at $134 million in 2012-13 and, importantly, will be eliminated by 2014-15."
The reality is Labor were unable to rein in spending and as a result left Tasmania with net debt estimated to be in excess of more than $400 million by 2016-17.
The Liberal Government promised Tasmanians we would fix the budget mess and that is exactly what we are doing.
Tomorrow's budget will deliver on our promises, fix the budget mess and lay the foundations for the future.