Image: J
With only a year to the next State election, a better understanding of the State’s situation is needed.
March will reveal Tasmania’s % share of GST for next year, May will be Budget time and hopefully June will see the Opposition putting a bit of bitumen on their Road to Recovery, which at this stage is just a few surveyors’ pegs heading nowhere in particular.
Part 4 of the series of background blogs on the State’s finances covers the State’s largest liability, its unfunded superannuation liability.
The Government whilst stemming the cash haemorrhaging from the Bartlett transgression is still prevailing over a system that is battling to accurately convey to a wider audience, the people of Tasmania, the inherent fiscal problems facing the State.
There is no better example than the unfunded superannuation liability.
Falling interest rates inevitably lead to increases in unfunded superannuation liability.
The Government now presents 2 sets of books each with a different figure for the value of unfunded superannuation, one pursuant to a strict interpretation of accounting standards and the other…. well it’s probably because the figures look better.
Read more of this in-depth analysis on John Lawrence’s blog, Tasfintalk, here
(John’s warning ……some of it may only be suitable for policy wonks!)
• Last year: State of the State: What your mother didn’t tell you, graph by graph
