Balanced Budget – delivering on our commitments

The Hodgman Liberal Government’s 2018-19 Budget delivers on our Plan to Build Your Future.

It is a Plan endorsed by an overwhelming majority of Tasmanians at the last election.

Our Plan will further strengthen our economy and support the creation of more jobs, with a record $2.6 Billion investment in the infrastructure our growing state needs to continue to prosper.

With more than 11,000 jobs created since we came to office, positive economic growth forecast and continued momentum expected across the Budget and Forward Estimates period, Tasmania is open for business.

We laid the foundations in the last term of Government so Tasmanians could look forward to a brighter future – now we are getting on with the job of taking Tasmania to the next level.

Over the next four years the Hodgman Liberal Government will invest a record $7.6 billion to meet the health needs of Tasmanians by increasing services, expanding our hospitals and improving our ambulance service.

We will invest more than $6.7 billion into Tasmania’s education system with new schools, upgraded facilities and a focus on expanding early learning services throughout the state.

We are also getting on with the job of building the infrastructure for our State needs with a record $2.6 billion investment in job creating projects to drive future economic growth.

Our Plan will also provide more than $300 million to reduce cost of living pressures, and protect the Tasmanian way of life.

In 2018-19, the Budget surplus is estimated to be $161.9 million, with the Budget forecast to be in surplus each and every year of the Forward Estimates period.

The achievement of modest surpluses over the Budget and Forward Estimates period provides a prudent financial buffer for the Government to manage unexpected events such as floods and bushfires.

Consistent with our Fiscal Strategy, we will continue to live within our means – growth in expenditure during our time in Government is forecast to be well below the historical long term average growth in revenue.

Importantly, the Government will remain Net Debt free over the Budget and Forward Estimates period.

This Budget continues our commitment to remain in surplus and live within our means so Tasmania can deal with any unexpected bumps in the road.

We will never take the Labor/Green approach of spending like there’s no tomorrow, and wrecking the State’s finances in the process.

Only by maintaining a balanced Budget with sound fundamentals can a government deliver more jobs, a stronger economy, improved infrastructure and better services for Tasmanians.