The ACT Under Treasurer has been forced to admit that the real deficit for 2023-2024 is over $1 billion, not $782 million as announced by the Treasurer during Public Accounts Committee hearings today on the budget review,

In addition, following questions from the Canberra Liberals, Mr Barr admitted that he will not deliver a surplus over the forward estimates, and is yet to deliver a surplus during his years as Treasurer.

When questioned on why Mr Barr is only Treasurer in Australia that uses Headline Net Operating Balance, rather than the Uniform Presentation Framework (as agreed by all State, Territory and Commonwealth Treasure’s), Mr Barr has admitted that no other jurisdiction in Australia includes the SRA in calculating their bottom line.

Canberra Liberals Leader and Shadow Treasurer Elizabeth Lee said Mr Barr’s entire budget is full of tricky accounting measurers to hide the real picture and cover up the staggering $1 billion deficit that the Territory is facing.

“In the hearing, Mr Barr tried to blame his poor record as Treasurer over the last 10 years on factors outside his control, but other jurisdictions around Australia, who also suffered those factors, have managed to deliver surpluses,” Ms Lee said.

“The reality is this Treasurer continuously blames everyone else for his own failings. He takes no responsibility for the complete mismanagement of the ACT’S finances, despite being at the helm for over a decade.

“Over the forward estimates total borrowings are anticipated to exceed $18 billion which means Canberrans will be forced to pay almost $2 million a day in interest repayments alone,” Ms Lee said.

“It is also staggering that despite this debt, there is next to no money in the budget for Andrew Barr’s extensive infrastructure pipe dream that includes Stage 2B of the tram, northside hospital, theatre, stadium, convention centre and music pavilion.

“It is incumbent on Andrew Barr to tell Canberrans how he will pay for all these projects and when they will be delivered.

“Canberrans have every right to ask; for all spending and all the debt created under this Chief Minister and Treasurer what do we have to show for it?” Ms Lee concluded.