If Tasmanians are closed to the notion of selling the $4 billion energy utilities there should at least be a debate about the rest.

We leave ourselves open to scorn and ridicule from other states because we're like a poor household, with a giant backyard and a Rolls Royce in the garage which we can hardly afford to run.

For a population with half a million people we have public assets worth at least $7 billion if you don't count roads and bridges and other fixed infrastructure; liabilities of almost $9 billion, with most of our public utilities making a loss and returning little or nothing to taxpayers.

Only the energy assets and Motor Accident Insurance Board make returns of much substance.

Partly fuelled by the carbon tax, the government business returns to taxpayers hit a peak of $330 million last financial year, but this is set to decline.

You don't sell assets unless the income exceeds what they return to taxpayers each year.

Forestry Tasmania, Tas Irrigation, Metro, TT-Line, Tasrail, TasPorts and TasRacing have not returned dividends.

TT-Line is saving its modest profits for replacement vessels and Metro soaks up about $35 million a year of taxpayer funds to provide a community service. Only about $11 million is collected in fares. If we keep it we should make Metro a free travel service and save money from reduced motoring costs like roadworks.

Tasmania does not have the luxury of the status quo. Other states are baying for blood, claiming we are a giant national park on welfare, with far more than our fair share of GST revenue. We have to be at least seen to be helping ourselves.

Thursday's state budget shows no signs of turning around that national perception, but if we don't reform our public sector the rest of the nation will do it for us.