The latest Business Outlook Report from Deloitte Access Economics is another clear indication that the Hodgman Government’s long-term Plan is working.
The Report highlights key areas such as tourism and hospitality, population growth and jobs growth as key drivers of our economy.
The Report says that “While many people’s attention has been focussed on developments in the larger States, Tasmania’s economy has been quietly kicking goals.”
The Government and Tasmania’s private sector have been working hard to “kick goals” and it’s great to see that one of the country’s most respected analysts has recognised that.
The Report says that “We estimate that output growth in Tasmania has picked up to the highest rate in the State since early 2010. Output growth in Tasmania may have even been a touch above the national average in early 2017.” That’s a fantastic achievement for Tasmania.
The Report singles out commercial construction as another shining light in our economy, saying:
“The State’s commercial construction sector has been doing much better, with the value of work done lifting by more than a quarter over the last year alone. That improvement in prospective activity has been supported by impressive growth in the accommodation and health care sectors.
“And the good news will continue for some time with the value of work commenced up by almost three quarters in 2016 while work yet to be done has more than doubled.”
This is a great example of what can be achieved when the Government works with the private sector to grow the economy and create jobs. We are looking to add to this growth through our latest budget, which provides support for more investment in infrastructure through the Tasmanian Economic Stimulus and more support for traineeships and apprenticeships through the Youth Employment Strategy.