***EMBARGOED UNTIL 12:01AM MONDAY 29 JULY 2019***
The July 2019 Commsec State of the States Report, confirms that the Tasmanian economy is one of the strongest performing in the nation, and that the Hodgman Liberal Government’s long term Plan is working.
According to the report, Tasmania ranks third out of all States and Territories, our best result in ten years as we continue to close the gap on the top spot.
Commsec’s report shows Tasmania is leading the nation on relative population growth (fastest in 27 years), housing finance and starts, vehicle sales, construction work, and business investment. Business investment is vital, because investment demonstrates confidence in our economy, creates jobs for Tasmanians, and contributes to continued economic growth.
CommSec identified Tasmania’s annual economic growth rate is the second highest in the nation and expects our strong economy to grow further, noting that:
“Tasmania is now solely in third position. In fact the strength on relative population growth, home purchase and construction could see the Apple Isle battling with NSW and Victoria for top position in the year ahead.”
The report confirms Tasmania’s economic recovery after the state was dead last under Labor and the Greens.
The report follows the Deloitte Access Economics Business Outlook and NAB Monthly Business Survey, which both reported Tasmania has the best business conditions in the nation.
This report is further proof our long-term plan is working to improve the lives of all Tasmanians, but we know there is more to do and we will continue to roll out initiatives that boost the economy, create jobs and protect the Tasmanian way of life.