Tasmanian government spends big on housing amid stadium controversy

Michael ReadEconomics correspondent

May 25, 2023 – 5.32pm

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The Tasmanian Liberal government will spend $373 million on housing and homeless services as it tries to neutralise controversy over a decision to spend $375 million on a stadium in the middle of a housing crisis.

Handing down the budget on Thursday, Treasurer Michael Ferguson revealed that an expected $19 million surplus predicted for 2023-24 in last year’s budget had been replaced with a $298 million deficit.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.