{"id":4036,"date":"2026-04-27T06:45:04","date_gmt":"2026-04-26T20:45:04","guid":{"rendered":"https:\/\/staging.petergeorgeforfranklin.com\/?page_id=4036"},"modified":"2026-04-28T17:44:35","modified_gmt":"2026-04-28T07:44:35","slug":"debt-clock","status":"publish","type":"page","link":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/debt-clock\/","title":{"rendered":"DEBT CLOCK"},"content":{"rendered":"<div class=\"et_pb_section_0 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_0 et_pb_row et_flex_row et_animated\">\n<div class=\"et_pb_column_0 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_code_0 et_pb_code et_pb_module et_flex_column_24_24 et_flex_column_24_24_tablet\"><div class=\"et_pb_code_inner\"><iframe loading=\"lazy\" src=\"https:\/\/tas-debt-pulse.base44.app\" width=\"100%\" height=\"1300\" frameborder=\"0\"><\/iframe><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_section_1 et_pb_section et_section_regular et_flex_section\">\n<div class=\"et_pb_row_1 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_1 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_0 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h1 class=\"p1\" style=\"text-align: center;\">Doing nothing is not a responsible option<\/h1>\n<p>\u00a0<\/p>\n<h5 style=\"text-align: left;\">Tasmania's Department of Treasury and Finance has issued a dire warning about the state's finances, saying they are forecast to \"rapidly deteriorate\" and the state does not have the ability to grow its way out of the problem.<\/h5>\n<h5 style=\"text-align: left;\">In effect, Tasmania will be borrowing significantly more money just to pay the interest on existing debt.<\/h5>\n<h5 style=\"text-align: left;\">Eventually the growth in interest expenses will become so great that no reasonable reduction in services will be capable of achieving budget repair.<\/h5>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_row_2 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_2 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_16_24 et_flex_column_16_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_1 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\" data-et-mv-hidden-phone=\"true\"><h5 style=\"text-align: left;\">State Liberal Treasurer ERIC ABETZ must put Tasmania first, above self interest, pride, party ideology or politics.<\/h5>\n<h5 style=\"text-align: left;\">He must TAKE THE ADVICE of The Department of Treasury and Finance who are actually qualified to guide Tasmania out of this mess - stop believing his own publicity, step aside and let the experts make financial decisions to save Tasmania from turning into a failed state with crumbling health care, failing infrastructure and spiralling debt.<\/h5>\n<h5 style=\"text-align: left;\">If he refuses to do this he will be remembered as the Treasurer that plunged Tasmania into a dark period of recession that will take generations to recover from (assuming the next generation stay here).<\/h5>\n<\/div><\/div>\n<\/div>\n\n<div class=\"et_pb_column_3 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_8_24 et_flex_column_8_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_image_0 et_pb_image et_pb_module et_flex_module\"><span class=\"et_pb_image_wrap\"><img decoding=\"async\" src=\"https:\/\/staging.petergeorgeforfranklin.com\/wp-content\/uploads\/2026\/04\/Abetz_Eric_2024.webp\" title=\"Abetz_Eric_2024\" class=\"wp-image-4100\" \/><\/span><\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_row_3 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_4 et_pb_column et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_12_24 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_2 et_pb_text et_pb_bg_layout_light et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><p>The cost of servicing this debt would increase from 2 per cent of operating revenue to more than 50 per cent within 15 years, while deficits would become \"increasingly unmanageable\".<\/p>\n<\/div><\/div>\n\n<div class=\"et_pb_image_1 et_pb_image et_animated et_pb_module et_flex_module\"><span class=\"et_pb_image_wrap\"><img decoding=\"async\" src=\"https:\/\/staging.petergeorgeforfranklin.com\/wp-content\/uploads\/2026\/04\/DEBTSERVICE.webp\" title=\"DEBTSERVICE\" class=\"wp-image-4047\" \/><\/span><\/div>\n<\/div>\n\n<div class=\"et_pb_column_5 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_12_24 et_flex_column_12_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_text_3 et_pb_text et_pb_bg_layout_dark et_pb_module et_flex_module\"><div class=\"et_pb_text_inner\"><h4 class=\"paragraph_paragraph___QITb\"><strong><em>\"Without action, the annual growth in debt servicing costs is projected to exceed the growth in state revenue within 10 years,\"\u00a0<\/em><\/strong><em><\/em><\/h4>\n<p><strong><em><\/em><\/strong><\/p>\n<p><strong><em><\/em><\/strong><\/p>\n<div class=\"EmphasisedText_emphasisedText__McMdj ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"EmphasisedText\">\n<h4 class=\"EmphasisedText_quote__TE6kn\"><strong><em>\"Eventually the growth in interest expenses will become so great that no reasonable reduction in services will be capable of achieving budget repair.\"<\/em><\/strong><\/h4>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n<div class=\"et_pb_row_4 et_pb_row et_flex_row\">\n<div class=\"et_pb_column_6 et_pb_column et-last-child et_flex_column et_pb_css_mix_blend_mode_passthrough et_flex_column_24_24 et_flex_column_24_24_tablet et_flex_column_24_24_phone\">\n<div class=\"et_pb_cta_0 et_pb_promo et_pb_bg_layout_dark et_pb_module et_flex_module\"><div class=\"et_pb_promo_description\"><h2 class=\"et_pb_module_header\">IF YOU HAVE TROUBLE BELIEVING THIS...<\/h2><div class=\"et_pb_promo_content\"><p>The 2026 Fiscal Sustainability Report (FSR) was prepared by the Department of Treasury and Finance in accordance with the provisions of the Charter of Budget Responsibility Act 2007.<\/p>\n<\/div><\/div><div class=\"et_pb_button_wrapper\"><a class=\"et_pb_button et_pb_promo_button\" target=\"_blank\" href=\"https:\/\/www.treasury.tas.gov.au\/Documents\/Fiscal%20Sustainability%20Report%202026%20-%20Summary%20and%20Key%20Findings%20(accessible).pdf#:~:text=Across%20nine%20modelled%20scenarios,%20growth%20slows%20but,somewhat%20below%20the%20long-term%20average%20of%202.\" rel=\"noreferrer\">Download the Treasury Report and Advice here<\/a><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-template-blank.php","meta":{"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":"","_tec_slr_enabled":"","_tec_slr_layout":""},"class_list":["post-4036","page","type-page","status-publish","hentry"],"ticketed":false,"_links":{"self":[{"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/pages\/4036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/comments?post=4036"}],"version-history":[{"count":74,"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/pages\/4036\/revisions"}],"predecessor-version":[{"id":4122,"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/pages\/4036\/revisions\/4122"}],"wp:attachment":[{"href":"https:\/\/staging.petergeorgeforfranklin.com\/index.php\/wp-json\/wp\/v2\/media?parent=4036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}