Tasmania, the turnaround State

Tasmania has the best performing economy of any state across any measure, Premier of Tasmania, the Hon. Will Hodgman, has told a CEDA audience in Hobart at the annual State of the State address.

“State Final Demand, the fastest rate of growth of any state for the first time in 15 years, tripled the rate of growth in the nation’s so called economic powerhouse, NSW, for the first time in more than 25 years,” he said.

“Gross State Product has risen on a per capita basis at the fastest rate in the country, private investment, the fastest rate of growth in Australia at seven per cent.

“Retail trade the highest rate of growth in the country, housing approvals, and finance up – we’re the only state in the country where that’s happening, the fastest growing rate of building work completed, while all other states declined.

“Engineering construction up again, the strongest rate in the country, tourists are now importantly spending more than ever before, exports have hit records high as we get our high value products to the rest of the world, our farmers the most confident in the country.

“Our population is growing at the fastest rate in 30 years and most importantly, more work for Tasmanians.

“We’ve got very high levels of business confidence, the highest in the country and the best business conditions and there are now 1600 more businesses operating in Tasmania than when my government took office in 2014 and they’re employing more people, 15,000 more Tasmanians employed than when we came to government.

“Our economy is performing well and the state of the state is in very good shape. But it’s not just economically where Tasmania is exceling.

“Tasmania is a state of excitement. It’s a very cool place to be. We’ve been awarded the best museum in the world, hotels, bush walks, books, bikes, festivals, farmers of the year, whiskies, wine, honey and cheeses for starters. Each year we generally win more than any other state at the national tourism awards, where we’re regarded as the best in the business.”

The Premier also touched on climate achievements, as well as economic, such as Tasmanian’s now having the lowest per capita emissions in Australia and globally, reaching zero net emission status in 2016.

“We are leading the nation in renewable energy generation and we’re on track to be 100 per cent renewable energy self-sufficient by 2022.

“We’re harnessing some of our greatest competitive advantages. The cleanest air in the world for any populated place on the planet and winds which are amongst the best renewable energy zones in the country; with abundant water ways, which are propelling nation-building infrastructure which will establish Tasmania as the renewable energy powerhouse of the country.

“So, not only will this allow us to export the most valuable commodity into a national market that desperately wants what we’ve got - reliable, low cost and clean energy - but its estimated that it will inject about $6.5 billion and around 2,400 jobs into our economy.

“This is a nation-building opportunity for our state that we are grabbing with both hands.”

Despite the strong economic conditions Tasmania is currently experiencing, Premier Hodgman said there were still many Tasmanians who were not enjoying the benefits of a strong economy.

He said a write down in GST payments, strain on infrastructure, healthcare and education had put added pressure on the state.

“We’re building the infrastructure that our growing state needs, but it’s also creating more jobs and this year’s budget forecasts that that infrastructure program will create 10,000 more jobs,” he said.

“We need to stimulate our economy and to maintain the momentum. Our budget has gone from the worst in the country, to one with surpluses, our economy now strong, whilst once in recession. The most important objective of any government is that we are in budget surplus with a strong economy.”

As well as committing to further stimulating the economy, Premier Hodgman also outlined his Government’s commitment to eliminating family violence.

“We designed a family violence action plan backed by $26 million in additional funding, resources, support and programs, which was described as nation-leading by Australian of the Year, Rosie Batty,” he said.

“On average one woman a week is murdered by her current or former partner, one in four children are exposed to domestic violence.

“Earlier this year we released the second stage of our action plan, backed with similar funding. We’ve expanded its scope to include sexual violence because we know that one in five women in our country have suffered sexual violence.

“We’ll continue to lead the nation in our mission to create a Tasmania free from family violence.”

Event presentations

The Hon. Will Hodgman MP, Premier of Tasmania MP3

Moderated discussion MP3

Delegate handout PDF

Published 25 October 2019