Responsible Financial Policy delivers a pathway to surpluses over the forward estimates


A re-elected majority Gutwein Liberal Government will return the Budget to surplus over the forward estimates period, with surpluses forecast in 2022-23 and 2023-24.

Today we released our Financial Policy which summarises our 2021 election commitments and our commitments made in the State of the State Address to Parliament in March.

Through continued responsible budget management, we estimate a net operating surplus of $5.6 million in 2022-23 and a surplus of $34.5 million in 2023-24. These projected surpluses are broadly in line with those estimated in Treasury's Revised Estimates Report in February this year.

We have submitted each and every one of our policies to Treasury to be fully costed. The question should be asked - “Has Labor done the same?”.

Labor have promised a surplus that simply can’t be delivered due to their reckless spend-a-thon so they need to demonstrate to the public how this would be achieved well before Saturday’s election.

Through our strong economic management, jobs have rebounded to the near-record levels seen before the pandemic, CommSec has ranked Tasmania as the best performing economy in the nation for the fifth quarter in a row, and our economic outlook is positive. There are now 26,800 more jobs than when we first came to Government in 2014.

Through our responsible budget management we will rebuild the budget following the pandemic, deliver a pathway back to surplus over the Forward Estimates period so we can reinvest even more into essential services for Tasmanians.

Importantly, as summarised in the Financial Policy, the funding allocated for Community Development and Services in 2020-21 includes a $20 million fund to provide immediate support and grants to sporting and community organisations to secure their future.

Only a majority Gutwein Liberal Government has a clear, long-term plan to Secure Tasmania’s Future based on a clear fiscal strategy as well as the responsible budget discipline and track record to deliver it.

That’s why Tasmanians have a clear choice on 1 May and who sits in the Premier’s chair. A majority Liberal Government with a strong track record of responsible budget management and results, or a minority Labor-Green rabble with a history of debt, deficit and failure.

The full policy is available here.