For the second year in a row, the Hodgman Government has balanced the budget.
Under Labor and the Greens, Tasmania was living on the credit card and the budget was a mess with massive deficits.
Because we’ve balanced the budget, it means that we can invest more in the important things, like health, education and supporting vulnerable Tasmanians.
Balancing the budget means we don't need to make Tasmanians pay more for essential services by increasing taxes, which is why I announced yesterday that a re-elected Hodgman Government is committed to no new or increased taxes.
After excluding the $730.4 million in Mersey funds from the Federal Government, the Preliminary Outcomes Report estimates that the surplus for 2016-17 will be $111 million, $33.7 million higher than forecast in the budget. The Mersey payment is a one-off payment that will be quarantined for Mersey Hospital spending only.
The surplus is due largely to a stronger economy which has delivered higher than forecast taxation revenue as well as additional returns from Government businesses.
The final audited budget outcome for 2016-17 will be published in the Treasurer's Annual Financial Report, which is due by 31 October 2017. A copy of the Preliminary Outcomes Report can be found at www.treasury.tas.gov.au