Canberra Liberals launch ACTDebtWatch.com as interest bill passes $1 billion since election
Canberra Liberals Leader Mark Parton and Shadow Treasurer Ed Cocks have launched ACTDebtWatch.com to track the ACT Government’s debt, interest bill and long-term fiscal risks.
Developed by Mr Cocks as part of the Canberra Liberals’ campaign for honest budgeting and stronger financial accountability, ACTDebtWatch.com gives Canberrans a clear and accessible picture of the Territory’s deteriorating fiscal position and the impact of rising interest costs on services and future choices.
The campaign highlights that the ACT is now paying $2.3 million everyday in interest on government debt, with total borrowings forecast to reach $23.7 billion by 2029-30.
Leader of the Canberra Liberals Mark Parton said today’s launch coincided with Labor’s Billion Dollar Interest Day.
“When Andrew Barr became Treasurer, the Territory’s Budget was in a far stronger position. After years of bad choices, Canberrans are now being left with the bill. The consequences will be felt in services, cost of living, infrastructure and the choices available to young people and future generations.”
“Canberrans deserve honest budgets, responsible spending and decisions that leave future generations with more opportunities.”
Shadow Treasurer Ed Cocks said ACTDebtWatch.com would help Canberrans understand the real-world cost of ACT Labor’s debt.
“For too long, the ACT Government has relied on optimistic forecasts, shifting explanations and promises of future surpluses that never eventuate,” Mr Cocks said.
“ACTDebtWatch.com helps Canberrans see clearly what is happening: debt is rising, interest costs are rising, and the cost of past decisions is crowding out services and future choices. Canberrans deserve to know where their money is going and what today’s decisions mean for Canberra’s future.”
Mr Cocks said the Charter of Responsible Budgeting, announced in Mr Parton’s Budget in Reply speech, would be a first step in restoring honest budgeting.
“At its heart, this is about protecting the services Canberrans rely on and protecting the choices available to young Canberrans and future generations.”
“ACTDebtWatch.com is a public resource to monitor ACT Government debt, borrowing and the growing interest bill facing every Canberra household.”