The Advocate (2 December, 2019) reported on the recent Tasmanian Chamber of Commerce and Industry (TCCI) 2019 Tasmania Report, noting it paints 'a grim picture of the state's future if targeted investment into critical services is not achieved.'
The underlying issue, that almost everyone avoids talking about, is the government's unsustainable fiscal position. The State government is in the same position now as it was when it won government in 2014. We spend more than we receive. The imbalances will worsen. There are no cash buffers. There are no funds set aside for a rainy day.
The economic success and benefit is not being shared as the gap between economic and social outcomes has failed to close.
It’s only a matter of time before reality catches up with the State government.
Treasury Secretary Tony Ferrall’s rewrite of his 2016 Fiscal Sustainability Report last month, when the original report was found to be lacking, sounded the warning bells loud and clear.
We should be thankful the Report was made directly to Parliament. There’s been a growing tendency for the government to put unfavourable reports on a trolley before wheeling them into the cabinet room to re-badge them as cabinet-in-confidence documents never to see the light of day.