Parkinson’s law of triviality briefly states says the time spent on any agenda item is inversely proportional to the sum involved.
Since 2007/08 cash deficits have been recorded in every year, totalling $1 billion, deficits that have been funded by plundering amounts set aside for other purposes.
Whilst it is commendable to boost aggregate demand by running deficits, the reality has meant Tasmania has been spending all available cash because it’s wedded to the idea that debt is undesirable while at the same time refusing to reform the unsustainable model to allow borrowings, which might provide scope to achieve more desirable economic and social outcomes in the future.
It’s a model we’ve been following for years. It’s about to reach its used by date.