Hardly a day goes by without some reference to the levels of public debt engulfing us all, here in Tasmania, in Australia as a whole, in Greece and the Euro zone, just about everywhere.
There’s lots of scaremongering, loads of misunderstandings, heaps of inappropriate comparisons and deliberately misleading use of figures.
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How does Tasmania’s government debt and liabilities compare with other States?
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Tasmania has
• A proportionally higher than average borrowings outside the general government sector. The Tasmanian government doesn’t have much debt but its subsidiaries, the government businesses, do.
• A proportionally higher level of unfunded superannuation as a % of total liabilities. Less borrowings but more ‘other liabilities’.
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None of the above makes Tasmania a basket case. The differences merely highlight Tasmania’s vulnerabilities. If anything it confirms that while comparisons between states are interesting and informative, we need to develop our own strategies for a sustainable future.
Read the full analysis, here:
http://www.tasfintalk.blogspot.com.au/2013/06/tassies-debt-and-liabilities-comparison.html
*Pic: Image, J
