***Embargoed until 01.01am Monday 30 July 2018***
Tasmania has again performed strongly in the latest CommSec’s State of the States report, coming in at 4th position nationally and recording the fastest annual pace of economic growth over the last year.
The report confirms Tasmania’s economic recovery after the state was dead last under Labor and the Greens.
According to CommSec, Tasmania has the fastest annual economic growth in Australia, at double the national average. The report also found that Tasmania has the highest annual growth in equipment investment in the nation – at 56 per cent annual growth – confirming that Tasmanian businesses are confident, investing and gearing up for continued growth.
Population growth is also the highest it’s been in nearly eight years, as more people than ever choose Tasmania as the place to live, work and raise a family, with the report stating Tasmania’s population growth is almost 65 per cent above the decade-average rate.
Other highlights from the report include:
The report follows the Deloitte Access Economics Report last week which showed that the Tasmanian economy is surging ahead and that Tasmanian businesses are the most confident in the nation. It’s further proof our long-term plan is working to improve the lives of all Tasmanians, and we will continue to roll out initiatives that boost the economy and create jobs.
That’s why we are supporting businesses by cutting payroll tax, making it easier for people to build their first home and encouraging interstate businesses to relocate to Tasmania.