On Labor’s own numbers, their pokies policy would drive the State’s finances back into deficit and create another Labor budget black hole.
Labor’s so-called economic blueprint, the Economic Directions Statement, showed that even before the pokies policy was announced, the best a Labor-Green minority Government could do was wafer thin budget surpluses of around $13 million to $17 million each year.
Yet, Labor’s pokies policy with their ‘first in best dressed*” option for compensation will cost up to $20 million a year in lost tax revenue and increased spending, meaning the budget would be in deficit each and every year of the current forward estimates period.
It defies logic that Labor wants to spend tens of millions of dollars hurting small business and costing jobs on a policy that will have minimal impact on alleviating problem gambling, while punishing the 99.5 percent of Tasmanians who are responsible gamblers.
Unfortunately, this is the type of behaviour Tasmanians can expect more of if Labor are elected.
The Liberal Government has balanced Tasmania’s budget so that we can invest more into health, education and public safety – not to buy out jobs and close down businesses.
2018-19 | 2019-20 | 2020-21 | ||
$m | $m | $m | ||
LABOR'S ECONOMIC DIRECTION STATEMENT | 13.29 | 14.16 | 17.68 | |
COST OF POKIES POLICY | 17 | 16 | 20 | |
REVISED NET OPERATING BALANCE |
| -3.71 | -1.84 | -2.32 |
LABOR'S POLICY | 2018-19 | 2019-20 | 2020-21 | |
$m | $m | $m | ||
FORGONE REVENUE | 5** | 10 | 14 | |
BUY BACK FUND | 10*** | 5 | 5 | |
SPORTING CLUB GRANTS | 0.5 | 0 | 0 | |
BUSINESS ADVICE | 0.5 | 0 | 0 | |
STAFF TRAINING | 1 | 1 | 1 | |
TOTAL | 17 | 16 | 20 | |
Notes :
* “a higher weighting provided for venues that choose to remove poker machines early” Labor policy document page 5.
**Part year revenue loss begins in 18-19 which increases over 3 years to $14 m in third year.
***Due to ‘first in best dressed' option 50% of compensation fund expended in 18-19 year.
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