The Hodgman Liberal Government is committed to keeping the Budget in the black by ensuring we continue to live within our means.
The 2018-19 Budget builds on our successful financial management, by forecasting Budget surpluses each and every year.
A balanced budget gives business confidence to invest and employ more people. Our budget discipline also means we can invest more in supporting essential services and respond rapidly to changing circumstances. It also creates appropriate buffers to deal with unexpected events like floods and bushfires.
Tasmania has come a long way over the past four years with more than 11,000 new jobs created, while our unemployment rate has dropped to 6 per cent which is a 1.5 per cent improvement since the 2014 election.
Our economy is one of the strongest in the nation and Tasmanian businesses are the most confident in the country.
In this Budget we are supporting initiatives to encourage investment and take jobs growth to the next level.
We have announced that we will be extending our successful payroll tax rebate scheme and small business grants until June 2021 to support the employment of around 4500 young Tasmanians as apprentices and trainees. These programs have been enormously popular with the business community.
The Government has also introduced legislation to implement policies to provide a payroll tax cut to create around 650 more jobs, and to provide businesses that relocate to, and employ in, regional Tasmania with a payroll tax holiday for up to three years, creating even more reasons for employers to take advantage of our business-friendly environment and provide more jobs for Tasmanians.
We also have a range of sector-specific policies that will reduce red tape and foster business investment, supporting even more jobs growth, including agriculture, small business, hospitality, tourism, seafood, IT and the racing industry.
Importantly, the Government’s $2.6 billion program of infrastructure investment will support thousands of jobs in the construction, engineering and trades sectors, as we build the infrastructure our growing state needs.
The Hodgman Liberal Government is continuing to invest in the infrastructure Tasmania needs with a record $2.6 billion in job creating infrastructure projects.
Ensuring we keep pace with a growing economy, rising population and increased visitor numbers requires significant investment in Tasmania’s transport infrastructure.
There are also major investments in essential health, education and housing infrastructure, and keeping Tasmanians safe.
Over $192 M will be invested in new school and TasTAFE infrastructure over the next 4 years.
This will commence the building of new schools in growth areas, fund major upgrades to learning facilities and create TasTAFE Centres of Excellence in Agriculture, Trades and Water and Tourism and Hospitality.
It also includes six new Early Learning Hubs and $15 M to build new, or upgrade existing, kindergarten facilities.
Over $475 M for redevelopment works and upgrades in our hospitals and ambulance stations.
An additional $15 M has been set aside for capital investments in rural hospitals and ambulance stations and $12 M for new ambulance stations at Burnie and Glenorchy.
Stage II of our Affordable Housing Strategy will see $125 M~ invested to build 1500 more affordable homes for Tasmanians in need.
Along with Stage I this represents the largest ever investment in affordable housing, almost $200 M over eight years, taking the total number of new affordable homes to 2400.
New and upgraded facilities to keep Tasmanians safe with $22 M to build new police stations at New Norfolk and Longford and an Emergency Services Hub (including police) at Sorell.
$70 M is being invested in a Southern Remand Centre and $150 M* for Stage 1 of a new Northern prison.
An additional $7.3 M will enable a major redesign and upgrade of Ashley Youth Detention Centre.
This budget delivers over $711 M in new projects, upgrades and maintenance across the State. Coupled with Australian Government commitments this takes total road investment to $1.1 billion.
Tranche 2 of our investment in Tasmania’s freight rail system will replace sleepers, rail, and upgrade bridges and drainage works across the network.
> Includes Australian Government funding * funding that is part of a larger project ~ over five years ^ over six year