Government businesses now on the brink

After almost 13 years of Liberal Government, our government businesses have turned from revenue generators into a black hole, laden with debt and being propped up by $1.8 billion in taxpayer support over four years.

The Auditor-General explicitly asked, "Where is the oversight?"

The answer is simple: Premier Rockliff and his Ministers have completely checked out, failing to monitor compliance, ignoring advice, and letting essential public entities fall into financial distress.

Half of all performance targets set by government businesses were missed this year, underlying sector profits collapsed and taxpayers are now paying the price.

There is now concern raised about whether these entities are a going concern – meaning they may not be financially stable enough to continue operating.

Tasmanians already knew TT Line was a financial basket case, but the Homes Tasmania situation is truly staggering. 

The Liberals created Homes Tasmania as a separate statutory authority in late 2022, promising it would deliver housing efficiently off-budget.

In less than four years, ministerial neglect has effectively bankrupted it. It maxed out its $546 million borrowing limit, requiring an emergency increase in its borrowing limit of almost $200 million only a few months ago. It is failing so badly even the Liberals now want to wind it up.