Tasmania’s strong economy reflected in MYEFO

The Australian Government’s 2025-26 Mid-Year Economic and Fiscal Outlook (MYEFO) has confirmed Tasmania’s economy is strong, with a stronger GST revenue outlook.

Due to our strong employment numbers and economic growth, over the four years to 2028-29, Tasmanian Treasury is forecasting GST revenue to be $299.1 million higher than previously estimated.

Premier Jeremy Rockliff said Tasmania’s economy is thriving, now worth a record $42.8 billion and continuing to grow.

“We have the lowest unemployment rate in the nation and the highest business confidence,” the Premier said.

“Since we came to Government, the number of Tasmanians in work has grown by over 51,000 people.”

The MYEFO does not include the required funding for a new National Health Reform Agreement, leaving Tasmanians stranded in hospital, having to wait another day.

“The Federal Labor Government committed to increasing its share of public hospital funding in 2023 and we will hold them to this for the health and wellbeing of Tasmanians,” the Premier said.

“The Federal Government must up it’s offer to States and pay it’s fair share of public hospital funding.”

The Tasmanian Government welcomes the $3.8 billion in funding for Marinus Link and the $346 million for the North West Transmission Development.

“We are building the next generation of energy infrastructure in Tasmania, and the MYEFO confirms the Commonwealth’s investment, as negotiated by our Liberal Government this year.

“Under a weak Willie-Winter Labor Government, Marinus would belong to the mainland, with Tasmania’s share sold. Including selling the rights to unfairly price our power, along with all the benefits and the estimated $470 million it will add to the State’s bottom line each year.

“The deal alone shows it is only our Liberal Government that is fit to lead Tasmania forward.”