The 2025-26 Budget builds a better Tasmania: now and for the future.

It delivers on the things that matter and provides a sensible pathway to surplus.

Treasurer, Guy Barnett, said the Budget continues to deliver our 2030 Strong Plan for Tasmania’s Future.

“The 2025-26 Budget addresses the key concerns in our community: cost of living, health and housing while also keeping Tasmanians safe,” the Treasurer said.

“It continues to ensure we have a strong economy by backing business and economic growth.

“It gets the balance right.

“Together, our investment over the next four years in health and education accounts for over 67 per cent of all Government spending.

“We will invest $14.5 billion into Tasmania’s health system, an additional 12 per cent on last year’s Budget, to meet increasing demand, that’s nearly $10 million every day into our health system.

“We will invest $9.9 billion into Tasmania’s education system, an additional five per cent, to ensure our young people and children get the opportunities they deserve.

“We will also continue providing relief to those who need it most, with over $550 million in cost-of-living measures to help make life more affordable for all Tasmanians.

“And, we will keep Tasmania’s economy moving forward, and Tasmanians in jobs, through an almost $3.5 billion investment in infrastructure.”

Responsible fiscal management is an integral part of the Tasmanian Government’s 2030 Strong Plan for Tasmania’s Future and is key to ensuring we continue on the right path.

The 2025-26 Budget maintains the Government’s commitment to returning the Net Operating Balance to surplus by 2029-30.

The Budget forecasts that Tasmania will have the fourth-lowest Net Debt as a percentage of Gross State Product as of 30 June 2026.

The Budget introduces a new set of Fiscal Performance Initiatives and includes a broad range of actions including the Government’s existing initiatives such as Red Tape Reduction, creating a more competitive and business-friendly environment to stimulate economic growth and job creation, and progressing landmark reforms across the Government Business sector.

“We will manage expenditure and ensure every dollar is spent in a productive and efficient manner,” the Treasurer said.

“Tasmania enters 2025-26 with a strong and evolving economy. It continues to be resilient – making gains where others have faltered. It leads the nation in business confidence and conditions – and with our commitment of no new or increased taxes, we will continue to send a message that Tasmania is the place to do business.

“The 2025-26 Budget allows us to continue building on these strong foundations, ensuring that we can make Tasmania the best place to live, work and raise a family.”