S&P Global Ratings have fired a warning shot across Premier Rockliff’s bow, downgrading its outlook on Tasmania to negative. The independent assessment makes it clear that the negative ratings outlook is due entirely to the Liberal minority government’s weak financial management.

It’s another huge hit to Premier Rockliff’s minority government after Tasmania’s peak business body, the TCCI, recently said it would be difficult to trust the minority Liberal government again.

The agency said the decision was made following the September budget, and audited results for fiscal 2024. Make no mistake: Premier Rockliff’s budget disaster has put Tasmania’s credit rating at risk.

And the Liberals’ record debt – which is now worse than any other state – means Tasmania will be spending twice as much on interest as we are on our ambulance service. But a credit downgrade will mean that Tasmanians pay even higher interest rates on the Liberals’ record debt.

In Parliament last week, new Treasurer Guy Barnett refused to nominate anything he would do to repair the budget and now the independent umpire has made a judgement.

It’s not talking Tasmania down - as the Liberals will say - its telling the truth about this incompetent government’s record because the Liberals still refuse to acknowledge what they’ve done to the state’s finances.

Alarm bells should be ringing through the halls of Treasury today now the first ratings agency has delivered their verdict on the Liberals horror budget.

Josh Willie MP
Shadow Treasurer