The latest Standard & Poors has affirmed Tasmania’s AA+ credit rating.
This is welcome news for Tasmania and demonstrates that our Net Debt is manageable and within the Budget’s capacity.
Treasurer, Guy Barnett, said that at 8.4 per cent, Tasmania has the third lowest estimated General Government Net Debt as a percentage of Gross State Product as at 30 June 2024.
“Tasmanians can be confident that we will return the Budget to surplus,” the Treasurer said.
“We have our 2030 Strong Plan for Tasmania’s Future, and a strong Fiscal Strategy that charts the pathway to surplus by 2029-30.
“Standard & Poors highlight Tasmania’s moderate relative debt burden and robust liquidity coverage as key factors underpinning the rating.
“Labor has no plan, no alternative Budget, and nothing to offer. All they have is relentless negativity.
“Tasmania’s economy has grown over 26 per cent in the last 10 years, to a record $40.6 billion, under our Government.
“In that time, the population has increased 12 per cent and 45,000 new jobs have been created.
“Our Net Debt position is no surprise – like every other State in the country, we used our strong balance sheet to support our economy, shielding businesses, jobs and our community from the impacts of the pandemic.
“We have also stood up and taken responsibility to address the wrongs of the past and the shortcomings in the protection of our children.
“Both of these have had significant Budget impacts.
“We have also invested at record levels for critical infrastructure and continue to do so, after significant under-investment by the former Labor-Green Government.
“These investments flow through the economy, to suppliers and subcontractors, and then to buying clothes, paying the bills and putting food on the table for thousands of Tasmanians.”
