Delivering the 2030 Strong Plan for Tasmania’s Future

The 2024-25 Budget drives the delivery of the 2030 Strong Plan for Tasmania’s Future and ensures Tasmania continues to be the best place to live, work and raise a family.

The 2024-25 Budget secures record investment in cost-of-living relief, health, housing, education and infrastructure – ensuring that the 2030 Strong Plan for Tasmania’s Future will be delivered over the next four years.

Premier Jeremy Rockliff said the Tasmanian Government is making record investments in the things that matter most to Tasmanians and making life more affordable.

“We are delivering record cost of living relief of more than $550 million as we support Tasmanians through the everyday challenge of affordability,” Premier Rockliff said. 

“Over the next four years, we will invest a record $12.9 billion into building a better health system, and $9.4 billion into improving our education system.

“Together, our investment in health and education accounts for over 58 per cent of all government spending.

“As part of the Government’s First 100 Days Plan, we have already delivered significant cost of living relief through our supercharged Renewable Energy Dividend and taking action to halve bus fares.

“The 2024-25 Budget goes further to deliver additional meaningful relief on the cost of living for vulnerable Tasmanians, including $211 million for annual electricity concessions, $89.9 million to support pensioners with the cost of local government rates, and $42.3 million for water and sewerage concessions.”

Treasurer, Michael Ferguson, said the 2024-25 Budget continues the Tasmanian Government’s strong track record of responsible economic and financial management, while investing in services and infrastructure, and protecting and supporting vulnerable Tasmanians.

“The Budget continues our record investment into infrastructure with $5.1 billion secured to deliver key job-creating projects. This includes new and upgraded assets across our health system, roads and bridges, and schools,” Treasurer Ferguson said.

“The Government continues to deliver on our $1.5 billion plan to provide 10,000 more social and affordable homes by 2032, with approximately $550 million over the next four years allocated to meet this goal and provide more roofs over the heads of Tasmanians.

“As anticipated, the 2024-25 Budget responds significantly to the Commission of Inquiry, with additional funding of $425 million to support the implementation of all the Commission’s recommendations.

“This investment is in addition to the priority actions that were funded as an immediate response in 2023-24 and the recognition of a $646.9 million liability provision following an independent actuarial assessment of the cost of current and future redress and civil claims for child sexual abuse in State care.

“The investment of $425 million in this Budget will modernise our protective systems and keep our children safe.

“Importantly, it acknowledges the wrongs of the past 40 years, and ensures Tasmania’s children are kept safe and protected from the worst crimes imaginable.”

The Tasmanian Government is prudently and responsibly managing its economy and public finances. As Tasmanians would expect, we will continue to provide effective and efficient public sector delivery while growing our frontline services.

The 2024-25 Budget continues to take corrective actions and charts a responsible pathway back to balance without the savage $2 billion in cuts to services and infrastructure that Labor committed to during the election, which would have destroyed business confidence and led to significant job losses.

Importantly, the Budget continues to promote a business-friendly investment environment, with no new or increased taxes.

The Budget position is forecast to improve to a small deficit of $63.2 million in 2027-28.

The Budget forecasts that Tasmania will continue to have the lowest Net Debt of all states and territories and is forecast to have the third-lowest Net Debt as a percentage of Gross State Product as of 30 June 2025.

The 2024-25 Budget will ensure that Tasmania remains the best place to live, work and raise a family.

Full Budget coverage available here