Today’s 2019-20 Budget review reveals a $278 million blowout in the ACT’s budget, taking Labor’s ticking debt bomb to over $3 billion that Canberra’s families will have to pay back with interest.
Once again, Labor is refusing to take responsibility for their financial management. Labor is all talk and no action.
Despite record tax hikes, services are worse than ever.
In discussing the financial position of his Government, Mr Barr highlights a reduction in Commonwealth funding in 2019-20 of $17.6 million (from $2,406 million to $2,388 million).
Somehow, this is meant to excuse the ACT’s net borrowing ballooning by $278 million (from a budgeted $696 million in the Budget delivered last June to an estimated $974 million now).
It’s clear that after 19 years of Labor, there are no excuses for this repeated financial mismanagement that is costing Canberra families more and more every day.
There is a better way. Only the Canberra Liberals will reduce the cost of living and make Canberra the best place to live, work and raise a family.
Note: Commonwealth funding to the Territory in 2019-20 is still expected to be $50 million more than last year (2018:19 $2,333 million).