The Hodgman Liberal Government has a long-term Plan to rebuild the budget dollar-by-dollar so that we can continue to invest in job creation, infrastructure and frontline services.
Today’s announcement by Standard and Poor’s that they are affirming their ratings is a clear sign that our long-term Plan is working.
In making their decision, Standard and Poor’s said that:
“The affirmation reflects our view of Tasmania's very strong financial management, strong economy, exceptional liquidity, and low contingent liabilities.”
and that
“The stable outlook reflects our view that the state government will achieve the bulk of its planned savings to keep its debt at moderate levels.”
There is no doubt that Labor and the Greens left the State’s finances in a complete mess. We have made the necessary savings and we remain committed to maintain the fiscal discipline needed.
The budget is on track to return to surplus in 2016-17, a full three years ahead of schedule.