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Tasmanian Treasurer Eric Abetz has released an interim 2025 budget forecasting a reduced peak state debt of $10.4 billion by 2028-29, down from previous estimates of $13 billion. The budget shows a small projected operating surplus in 2028-29 but includes few new savings measures, aiming instead for longer-term debt reduction.
Abetz attributed the challenging financial position to factors such as COVID-19 and recent early state elections. He pledged decisive action in the next budget cycle while cautioning that rapid cuts could disrupt government services and the economy, with detailed plans expected in mid-2026.
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