Government welcomes Standard and Poor’s judgement on the budget and economy

International credit ratings agency, Standard and Poor’s, has confirmed that the Hodgman Government has the budget under control and the State is heading in the right direction.
Standard and Poor’s has updated its analysis of Tasmania and has reaffirmed our AA+ credit rating and stable outlook. This is the second highest rating available under Standard and Poor’s rating system and sees Tasmania ranked higher than Western Australia and South Australia and on par with Queensland.
The main reason for the credit rating is the fact that the Hodgman Government has balanced the budget for the first time in years. Our spending is under control and while revenue is tight, we are investing in the areas that matter – health, education and protecting the vulnerable.
Standard and Poor’s said that “We consider the State of Tasmania has very strong financial management, strong economy, exceptional liquidity, and low contingent liabilities.”
This is in stark contrast to how Labor and the Greens managed the budget. Under Labor and the Greens, unemployment reached more than 8 per cent, the economy went into a recession and the budget was in deficit year after year to the tune of hundreds of millions of dollars.
Peter Gutwein, Treasurer