The downgrading of Tasmania’s credit rating is an indictment on the Liberal Government, and yet more proof of why the proposed Macquarie Point stadium must be rejected.
This credit downgrade is an alarming development for Tasmania. Moody’s themselves point out we’ve ended up here because this government has spent years focused on the wrong priorities. And yet the Liberals are stubbornly pursuing a stadium that will make things even worse.
Debt has ballooned under this government, and now the interest rates we’re paying on this debt will go up too. That means less money for housing, health, and other essential services – especially if there’s another $2 billion in stadium debt added to the pile.
Moody’s specifically point out the risks the stadium poses to the state’s finances. That’s because it will be a huge additional debt, and because we’ll now be paying even higher interest rates on that debt. This project simply must not go ahead.
There’s so much to be done to fix Tasmania’s finances, including making big corporations in industries like fish farming and mining pay their fair share. On the other hand, building a stadium is the last thing we should be doing in a budget crisis.
The Liberals are hell bent on pushing ahead with the stadium no matter the cost, and Labor have given them unconditional support. With both major parties refusing to do the right thing, it’s up to the Legislative Council to put Tasmanians first by stopping the Liberals’ reckless stadium spend.
