The state budget has been revealed to be in better shape this financial year than originally expected, with an improved net operating deficit of $259.6 million.
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The Preliminary Outcomes Report released on Monday shows a $196.7 million improvement on the deficit, which was estimated to be $456.3 million earlier in the year.
Preliminary revenue from transactions improved slightly by $8.4 million to $7.8 billion, according to Treasury.
Treasurer Michael Ferguson said the state's net debt was estimated to be $1.04 billion which was a $633 million improvement on last year's budget.
He said an estimated $817 million had invested into community infrastructure.
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"This is 99 per cent of what we budgeted for and a whopping 28 per cent higher than the previous year," Mr Ferguson said.
He said the state had received higher than budgeted funding through increased National Partnership Payments, particularly in relation to the COVID-19 response, the advance payment of local government Financial Assistance Grants, and funding for Roads of Strategic Importance.
Mr Ferguson said there were improvements in our taxation receipts, with increased payroll tax and increased conveyance duty.
Labor's finance spokesman Shane Broad said Mr Ferguson should not claim credit for increased federal payments as he had no responsibility over them.
"Treasurer Michael Ferguson's attempts to claim credit for GST and COVID payment windfalls expose a government that is completely out of touch when it comes to the soaring cost of living," he said.
"Households and businesses are being stretched to breaking point right now."
Political reporter for Australian Community Media, based in Hobart.
Political reporter for Australian Community Media, based in Hobart.
