S&P Global maintains Tasmania’s credit rating

Peter Gutwein,Treasurer

The Hodgman majority Liberal Government’s experienced management team has once again been endorsed by leading ratings Agency, Standard and Poors Global, with the Agency today again rating Tasmania with AA+ (Stable), its second highest rating.

In a resounding endorsement of the Government’s fiscal management, S&P Global stated that our”disciplined approach to containing expenditure will continue to gradually widen operating surpluses…. and that “Tasmania’s experienced management team and exceptional liquidity coverage continue to underpin the state’s credit worthiness.”

S&P Global expects Tasmania will maintain its “solid fiscal position” and that: “The stable outlook reflects our expectation that Tasmania’s strong operating position will offset its larger capital program spend. We expect the state’s debt level to remain low compared with its peers.”

Tasmania is currently the fastest growing economy in Australia, and 15,000 jobs have been created since we came to Government. S&P Global project that our economic growth will remain high at 2.75 per cent over the next two years, in line with forecasts in the 2019-20 Budget.

Unlike the previous Labor-Green Government that left the state in deficit, we have delivered four surpluses, and budget for modest surpluses to provide the flexibility to respond to emerging pressures. Our state budget is all about maintaining the momentum and investing for further growth, ensuring we can deliver our plan to grow the economy, create jobs, invest in essential services, keep Tasmanians safe and protect our way of life.

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