TasCorp’s GBE hearing has revealed that TT-Line’s finances are all at sea after the biggest infrastructure stuff-up in Tasmanian history.

A full review of TT-Line’s finances is underway while they continue to drown in debt brought on by the Spirits Fiasco.

According to TasCorp, TT-Line have taken a leaf out of Premier Rockliff’s book and are borrowing just to pay the interest on their huge debt. They have revealed that TT-Line are still in breach of their debt agreement – six months after the breach occurred and is on track to exceed its current borrowing limit of $1 billion.

Less than a year after bailing out a Finnish shipbuilder to the tune of $80 million, the tables have turned on the Liberals and now TT-Line could require a bailout to keep the ferry operator afloat.

By showing they don’t care about the consequences of racking up record debt in government, the Liberals have set a terrible example for Tasmania’s GBEs to follow.

A bailout for TT-Line would just be another sorry episode of this whole fiasco, as the Liberals face a credit downgrade themselves for their record debt even before they bailout TT Line.

How much more is Premier Rockliff’s Spirits Fiasco going to cost Tasmanians? After 10 years of financial mismanagement, it’s clear the Liberals can’t be trusted with the state’s finances.

Josh Willie MP
Shadow Treasurer