Island State to Cut, Cut, Cut Its Way Back to the Black

The Tasmanian government has released the full budget, and a new fiscal strategy, including $1.5 billion of “operational efficiencies” over four years.

Tasmanian Treasurer Eric Abetz during an appearance at Foreign Affairs, Defence and Trade Legislation Committee at Parliament House in Canberra, Australia, on March 25, 2021. Sam Mooy/Getty Images

Tasmania will slay its debt dragon with across-the-board cuts, pledging a surplus in two years and to keep borrowings a whisker under $10 billion.

Treasurer Eric Abetz produced his first full budget on May 21, and a new fiscal strategy, including $1.5 billion ($US1.07 billion) of “operational efficiencies” over four years.