BUILDING TASMANIA’S FUTURE: STRONG, SAFE AND SECURE
JEREMY ROCKLIFF MP, Premier
MICHAEL FERGUSON MP, Treasurer
The 2023-24 Tasmanian Budget is about building Tasmania’s future to be strong, safe and secure and delivering for all Tasmanians.
We are focused on what matters to Tasmanians: health, education, housing, and building safe, inclusive, and thriving communities.
Premier Jeremy Rockliff said, our vision is for Tasmania to be a place where everyone is encouraged and supported to be the best they can be.
“To achieve this, we will harness our competitive advantages, create more opportunities for Tasmanians, and maintain a robust economy so that we can invest where it matters most,” Mr Rockliff said.
“Strong Budget management has been a hallmark of this Government and the 2023-24 Budget is built on this foundation.
“Our economy remains strong, with an additional 56,000 people employed across the State since we came to Government, with the unemployment rate at 3.8 per cent – the lowest rate on record, and almost half of what it was when we came to Government in 2014.
“This means more jobs and investment, and explains why the Tasmanian economy has been ranked first overall for 11 out of the previous 13 quarterly reports and has improved on all 8 performance indicators in the CommSec State of the States report since coming into Government in 2014.
“Treasurer, Michael Ferguson, said importantly, in 2021-22, our economy grew by 4.3 per cent, which was higher than the national growth rate. This followed growth of five per cent in the previous year, with Tasmania experiencing the second highest growth of all jurisdictions over the past two financial years.
“The Tasmanian economy is expected to continue to grow by 1.5 per cent in 2022-23. The more subdued growth expected for 2022-23 and over the forecast period, reflects the impact on the Tasmanian economy of high inflation, rising interest rates and other global events. Growth is expected to pick up over 2023-24 and 2024-25, with forecast growth of two per cent and 2.25 per cent,” Mr Ferguson said.
“This Budget will build on the gains made in recent years, with strong investments in the areas Tasmanians care about, such as health, housing, education, and cost of living support.
“And despite the impact of the global pandemic on our economy in recent years, we will deliver on our promise to get the Budget back on track and into surplus over the Forward Estimates.
“In 2025-26, we will return to a Net Operating Surplus of $12.7 million, increasing to $61.2 million in 2026-27.”
This is a Government with integrity and heart, one that is accountable and delivers on its commitments.
With that objective firmly established, the 2023-24 Tasmanian Budget delivers on our ongoing commitment to building Tasmania’s future, that is strong safe and secure.