The release of the Government’s budget update shows yet again that Andrew Barr cannot manage the Territory’s finances, the ACT Leader of the Opposition, Alistair Coe, said today.
“The update shows an estimated fiscal deficit of $591 million in 2016–17. This means the government will need to borrow $591 million to meet this year’s total expenditure,” Mr Coe said
“The deficit of $591 million is $31 million worse than the Government said in its original budget estimates and follows a deficit in 2015–16 of $631 million.
“Andrew Barr can’t complain that he is not getting enough money from the public. Operating revenues are estimated to rise by 5.8% in 2016–17, and income from the sale of land and other assets is estimated to increase by 85%.
“Andrew Barr will have at his disposal more than $6 billion in 2016-17. The problem is that he does not know how to manage public money. Every year his government runs large deficits and every week we see reports on the government’s failure to deliver good quality public services,” Mr Coe concluded.