Will Hodgman

Premier of Tasmania

12 August 2018

Peter Gutwein, Treasurer

Preliminary Outcomes Report 2017-18: Hodgman Government delivers another balanced budget

The Hodgman Government is committed to providing Tasmania with strong budget management.

A balanced budget helps drive confidence, which in turn supports economic growth, attracts investment and job creation.

The 2017-18 Preliminary Outcomes Report shows that for the third year in a row, the Hodgman Government has balanced the budget.

This is enabling us to invest record amounts into health and education, keeping the community safe and investing in vital infrastructure right around the state.

The Preliminary Outcomes Report shows that we are on track to deliver a modest surplus for 2017-18, of around 1.6 per cent of revenue. The surplus reflects the fact that we continue to sensibly spend within our means and that our economy is growing faster than any other state in the country.

The Hodgman Government believes that sensible budget surpluses are vital. Living within our means ensures we have the flexibility to deal with unanticipated challenges like natural disasters or last year’s worst ever flu season.

We need to remain vigilant. Even a small change can have dramatic impacts on the budget, so we will continue to spend wisely and have budgeted for a surplus of between 2 and 3 per cent of revenue in 2018-19.

The final audited budget outcome for 2017-18 will be published in the Treasurer's Annual Financial Report, which is due by 31 October.  A copy of the Preliminary Outcomes Report can be found at www.treasury.tas.gov.au

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