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Tasmania's Treasurer Michael Ferguson has hit back at what he describes as a "toxic smear campaign" over the reporting of a personal bankruptcy from 30 years ago.
The matter surfaced on Friday afternoon in The Australian, which reported Mr Ferguson had a debtor's petition accepted in February 1994, which was discharged six months later.
Mr Ferguson had not actively disclosed the bankruptcy to voters while seeking election at multiple state and federal elections over the past two decades.
In a post on Facebook, Mr Ferguson outlined that the bankruptcy stemmed from a car accident he was involved in when aged 19 while driving uninsured.
"The other people were covered by their insurance. So given my age and lack of income I was advised to apply for bankruptcy, and did so," he wrote.
"Just to be clear, there is not an issue in terms of eligibility to run for parliament or to serve in the ministry.
"For more than 30 years, I have been open about this whenever it's been raised with me or required, including through party vetting processes."
Labor says it was "little wonder Tasmania's finances are such a mess; Michael Ferguson went bankrupt and now he's wrecked Tasmania's finances too", The Australian reported. (ABC News: Luke Bowden)
Mr Ferguson, who is also Tasmania's Deputy Premier, has faced extensive scrutiny since the last election over the rollout of two new Spirit of Tasmania vessels and associated port upgrades, as he was the shareholder minister for Spirit operator TT-Line and TasPorts.
He could face a no-confidence motion when parliament returns next week, following evidence from current and former TT-Line leaders in parliament.
Mr Ferguson said the surfacing of the bankruptcy was "a political attack".
"It's a gutless, grubby attack from people who I frankly expected more of," he said.
"I hope Tasmanians can see straight through it, they deserve better than political opponents attempting to use events from when someone was 19 years old to tear them down over 30 years later."
Labor's Treasury spokesperson Josh Willie is quoted in The Australian report, saying "it's little wonder Tasmania's finances are such a mess – Michael Ferguson went bankrupt, and now he's wrecked Tasmania's finances too".
Labor, the Greens and crossbenchers, including Jacqui Lambie MP Andrew Jenner and independent Kristie Johnston, have raised various concerns about Mr Ferguson's ability to remain treasurer and in cabinet.
The government only controls 14 out of 35 votes in the lower house.