Securing Tasmania’s Future - Delivering Our Plan

26 August 2021

Peter Gutwein MP   

Premier and Treasurer

The 2021-22 Tasmanian Budget builds on the strong foundations this Government has established over the past seven years to deliver the plan we took to the people at the May election and secure Tasmania’s future.

The 2021-22 Budget delivers on our plan to secure Tasmania’s future, and fully funds our 2021 election commitments.

Over the four year period of the Budget and Forward Estimates, we expect our plan will support around 28,000 jobs, as well as providing significant opportunities for Tasmanians as we deliver on our commitments.

It also provides funding for new initiatives, which will help to meet increased demand for essential services, especially in our health system, as well as supporting vulnerable Tasmanians.

Given the uncertainty of the COVID situation, the Budget also provides the flexibility to ensure we can continue to respond to the impacts of the pandemic, with $300 million included in the Treasurer’s Reserve in the 2021-22 Budget across the Forward Estimates.

Going into this pandemic our financial position was strong and even though we provided more than $1 billion in economic and social supports, the Budget is now on track to surplus and will be back in the black over the forward estimates period - returning to a cash operating surplus of $368.8 million next year, and returning to a modest operating surplus of $39.4 million in 2023-24. This increases to an operating surplus of $126.8 million in in the 2024-25 year.

We have worked hard to keep people safe, invested record amounts in support and stimulus packages, and confidence has stayed strong, investment has increased and jobs have bounced back.

This Budget is a clear investment in securing Tasmania’s future, and will deliver our plan, as we said we would.

We will invest a record $10.7 billion into our health system, and the health and wellbeing of Tasmanians.

A record $8 billion will be invested in education, skills and training to enable Tasmanians to get the jobs that will support and drive our economy forward.

We’re also helping more Tasmanians into homes through $615 million into social and affordable housing, and homelessness initiatives to help more Tasmanians in need.

The Budget also includes an ambitious $5.7 billion infrastructure program to support jobs, and build better, safer and more connected communities.

And it delivers on ambitious climate action plans, and delivers savings on land tax and targeted stamp duty relief to put more money back into the pockets of hard-working Tasmanians.

This Budget is based on listening to Tasmanians, and providing support where it is most needed in our communities, our business and our economy.

I want to thank all Tasmanians for rising to the challenges we have faced, and working together in these extraordinary times to look after each other and keep our community safe.

This Budget delivers on our plan to secure Tasmania’s future.