Today, I am releasing Labor's comprehensive Fiscal Strategy - our responsible, long-term plan to repair the damage caused by 11 years of budget mismanagement.
Our strategy sets out how Labor will restore responsibility to the state's finances, reduce debt, and rebuild public confidence in government budget management. With hard work and discipline, we are ready to fix the budget, grow the economy and deliver the change Tasmania needs.
After more than a decade of reckless Liberal spending and budget mismanagement, Tasmania's finances are on track to become the worst in the nation. Tasmanians are now facing $13 billion in net debt and annual interest payments of over $700 million.
A Dean Winter Labor Government will:
- Immediately implement $1 billion in savings to reduce pressure on the budget in the short-term.
- Commit to allocating any net windfall gains from taxation revenue towards debt reduction.
- Hold a Budget Repair Roundtable with key stakeholders to include them in the budget repair process.
Tasmanians will need to work together on budget repair. A Dean Winter Labor Government will be open and honest with the Tasmanian community about the scale of this task, and the immense challenge associated with restoring the health of Tasmania's finances.
Through a Budget Repair Roundtable, Labor will work with unions, businesses, and the broader community on the steps necessary to restore Tasmania's financial health and ensure budget repair actions are informed by the recommendations of this group, and advice from independent experts.
In addition to this, noting the three key budget documents released over the past four-month period have all presented a differing and worsening perspective on the state of the budget, a Dean Winter Labor Government will bring forward publication of the Fiscal Sustainability Report. Unlike the Liberals, Labor will be honest about the state of the budget and serious about fixing it.
If you can't manage the budget, you can't govern Tasmania. This strategy proves that a Labor Government I lead can - and will.
After 11 years of the Liberals, it's time for a Fresh Start for Tasmania's finances and a vision for the future
Dean Winter MP
Labor Leader
