Spirits Fiasco Nears Bailout by March 2025
The holder of TT-Line’s debt has revealed it is dead certain there will be further cost blowouts to the Devonport berth construction project, and the company still has no idea what the total cost will be.
The project is already half a billion dollars over budget and counting. Just how much more money is Premier Rockliff’s Spirits fiasco going to cost Tasmanians?
Stunningly, TasCorp Chairman Tony Ferrall has also revealed that TT-Line’s borrowing limit will only get the through to September, and a State Government bailout of TT-Line in the future is more likely than not.
It is absurd that while Premier Rockliff is trying to flog off Tasmania’s GBEs to pay for his ballooning debt, he will need to take on even more debt to bailout one of the businesses up for sale.
After 11 years of financial mismanagement, it’s clear that Premier Rockliff can’t manage money.
Josh Willie MP
Shadow Treasurer
https://taslabor.org.au/news/media-releases/spirits-fiasco-sailing-towards-bailout-payment/