17 December 2014

Peter Gutwein, Treasurer

Westpac report shows jobs growth leading to a stronger Tasmanian economy

Today's report on Tasmania's economy by Westpac shows that employment is on the rise, our population is growing and our housing sector remains strong.

The Liberal Government's number one priority is jobs and this report shows that under the Liberals, Tasmania is finally heading in the right direction.

Since the election over 6,000 jobs have been created, business confidence is through the roof, retail sales are at their highest ever levels and the building and construction sector is heading into a boom that is seeing housing and major construction projects being built right around the State.

Our long-term Plan will see more jobs created through building business confidence, fixing the planning system, making sure Tasmania is open for business with our innovative EOI process for developments in our national parks and World Heritage Areas and grabbing opportunities in China with both hands.

The report notes that:

• "State population growth has improved.  Employment is on the rise and the unemployment rate has declined."

• "Total employment in the State has rebounded sharply in 2014, trending 4% higher."

• "Consumer spending is advancing against this backdrop of a housing upturn and a strengthening labour market.  Consumption expanded by 0.7% in the September quarter and by 1.8% over the past year, a turnaround from a 0.4% decline over the previous year, representing a solid rise in per capita spending."

• "Tourism and education provide opportunities, particularly with the currency down sharply against the US dollar.  Agriculture is another sector offering opportunities for growth."

• "Tasmania also experienced an acceleration in consumer spending in 2014 as home building activity rebounded sharply."

The report can be accessed here: https://wibiq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2014/December/WestpacCoasttoCoastDecember2014.pdf

More Media Releases from Peter Gutwein

More Media Releases from the Treasurer