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The 2009-2010 Mid-Year Financial Report

Premier David Bartlett and Treasurer Michael Aird released the 2009-10 Mid-Year Financial Report which shows the State Budget position has improved by $54 million since budget time.
“This report yet again confirms the Government’s commitment to never go back into net debt and to return the Budget to an Operating Surplus by 2012-13.
“At Budget time last year it was projected that there would be an Operating Deficit for 2009-10 of $117.1 million.
“In the Preliminary Mid-Year Financial Report released in December this had improved to a deficit of $83 million - there has now been further improvement to a deficit of $63.4 million.
“This is a government that is prepared to make the hard decisions and to share the benefits of an improving economic and budget position with the Tasmanian community.
“The revised Budget figures released today completely supports Moody’s Investor Services recent decision to yet again confirm Tasmania’s Aaa credit rating.
“It is credit rating agencies that are the recognised leaders and benchmark in assessing the financial position of a State Government, not ill-informed people whose one and only contribution is feigned angry references to drunken sailors.
“Will Hodgman is the Barnaby Joyce of Tasmanian politics and is completely incapable of understanding financial matters and completely disregards the importance of strong financial and economic management.
“The Mid Year Financial Report is on the table and the improved Budget position together with fully funded Government announcements are there in black and white.
“The Liberal’s election promises are not in the report, are not funded and can do nothing but destroy the budget improvement and drive the Government back into net debt.
“Just a week ago Mr Hodgman was claiming that the Government would bankrupt the state and today these statements are dramatically shown to be as empty, hollow and wrong as all his other claims.
“The contrast between the Government’s position and that of the financially irresponsible Liberal Party could not be more stark.”
Mr Aird said the Liberal Party’s completely unfunded and phoney election promises now amount to in excess of $3 billion.
“That’s a Liberal Budget Blackhole of over $3 billion that would see community services slashed, Tasmania plummet back into Net Debt, the Government’s responsible fiscal strategy ruined and the State’s Aaa credit rating trashed,” Mr Aird said.
“The level of increases in taxes on business and the community that would be needed under a Liberal Government to even try and plug this blackhole would destroy our economy.
“This Government has a financial record second to none and is widely respected for its commitment to responsible financial and economic management.”