Tasmanian government businesses drain $584m from taxpayers in one year
Tasmanian state-owned enterprises cost taxpayers $584.64 million to support last year. They returned just $158.83 million, the auditor-general's report shows.
Tasmanian government businesses are bleeding money. The auditor-general found they needed $743.47 million in subsidies and equity contributions last year.
The businesses returned only $158.83 million to the state. Taxpayers footed a net bill of more than $584.64 million.
Three businesses reported material doubts about surviving without ongoing government support. These were TT-Line, the ferry operator, Homes Tasmania and Metro Tasmania.
TT-Line received $74.5 million alone. It is locked in for another $506 million over four years.
The auditor warns the sector's total borrowing will grow from $5.39 billion to $8.94 billion by 2030. The businesses are also hitting only half their performance targets.
- Martin Thompson
- Auditor-general
- $584.64 million
- Taxpayer cost
- $74.5 million
- TT-Line last year funding
- $506 million
- TT-Line four-year commitment
Why it mattersTaxpayer money spent on losing businesses is money not spent on schools, hospitals and roads. The auditor flags a worrying trend with no clear turnaround plan.
AustraliaTasmanians are carrying the growing cost of these government enterprises, and the state budget projects support payments to keep climbing toward $909 million by 2029 unless the businesses turn around sharply.
✓ Claims checked against the source. checked 6 h ago
Open this story in InSnip →
