Tasmania deep in debt: Giddings does a Gillard

[nero_bolt]

Labor’s new generation of leaders - not least the women - are reviving the party’s reputation for reckless spending and debt:

TASMANIA’s budget has plunged into record deficit,   but the Labor-Greens government, facing an election within 10 months, has chosen ballooning debt rather than further savings to avoid a crisis.

Premier and Treasurer Lara Giddings is this afternoon delivering a budget that outlines a deficit of $425m for the 2013-14 financial year, and a debt of $229m by 2014-15.

Despite the budget crisis, the budget will see a pre-election spending increase of almost 3 per cent...

The profligacy of Kevin Rudd, Julia Gillard, Anna Bligh and Giddings will take a generation to live down

http://blogs.news.com.au/dailytelegraph/andrewbolt/index.php/dailytelegraph/comments/tasmania_deep_in_debt_giddings_does_a_gillard/ 

Tasmania budget hits record $425m deficit, Lara Giddings reveals

TASMANIA's budget has plunged into record deficit, but the Labor-Greens government, facing an election within 10 months, has chosen ballooning debt rather than further savings to avoid a crisis.

Premier and Treasurer Lara Giddings is this afternoon delivering a budget that outlines a deficit of $425m for the 2013-14 financial year, and a debt of $229m by 2014-15.

Despite the budget crisis, the budget will see a pre-election spending increase of almost 3 per cent, including the first down-payments on funding Tasmania's share of the Gonski education reforms.

There are also modest measures to try to stimulate stagnant private investment, notably a $10m a year cut to payroll tax and a $65m school infrastructure program.

Ms Giddings, delivering her third and according to opinion polls, likely last state budget, said it aimed to strike a balance between fiscal responsibility and stimulating economic activity.

"We are maintaining a path back towards a sustainable budget position, but without having to impose further belt-tightening or tax rises," she said.

"I believe we have found the right balance between fiscal discipline and investing in Tasmania's future."

The $5 billion budget promises a return to a small, $9.9m surplus and net-debt free status in 2016-17.

However, this is predicated on an optimistic assessment by state treasury of a sudden turnaround in the island's stagnant economy.

Gross state product, which declined 0.75 per cent in 2012-13, is forecast to suddenly grow by 2 per cent in the coming financial year, while unemployment, which has risen to 7 per cent, is estimated to fall to 6.75 per cent.

http://www.theaustralian.com.au/national-affairs/state-politics/tasmania-budget-hits-record-425m-deficit-lara-giddings-reveals/story-e6frgczx-1226649296516

[silverfaun]

Tasmania is a basket case, has been since Labor/Green have been in control.

I see the Newspoll has the Greens  now at 9%. I hope this mob are rubbed out at the next election. They were at 16% in 2010 & now they have plummetted in the polls.

The Greens were totally obliterated In Ireland after they urged the green energy subsidies that ultimately sent Ireland broke, like Spain & now in Germany, the wind turbines are broken & rusted, less than useless & yet we are still ploughing millions into this visually polluting failure.

[lakeland27]

''The Greens were totally obliterated In Ireland after they urged the green energy subsidies that ultimately sent Ireland broke,''

Ireland feels full impact of global financial crisis

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Australian Broadcasting Corporation

Broadcast: 04/03/2009

Reporter: Phillip Williams

When the economic crisis started to wash over the globe Ireland was one of the first to sink, and in September last year it was declared to be in recession. The property boom has collapsed, construction has slumped and unemployment is climbing. There is even talk of people fleeing the hard times as emigrants just as they did during the potato famine two centuries ago.

This article refutes that flawed argument nicely. the rest falls apart without any additional help.

[lakeland27]

This one works http://www.abc.net.au/lateline/content/2008/s2507657.htm

[vampire-teddy]

yes because the gender of the politician is of utmost importance.  that comment just proves my point about sexism against female politicians.  as for Anna Bligh I would rather live in Queensland under her than Campbell Bjelke Petersen anyday.  Unless you are a developer, mining magnate or in the gambling industry he isn't interested.  He is destroying Qld.  he also goes back on promises such as selling off public assets and when labor suggested a levy for flooding he was against it but now wants to introduce it himself.  His education minister Langbroek is just as bad.