Tasmanian State Budget lays the foundations for the future, says Treasurer

“We have a growing but fragile economy,” Tasmanian Treasurer and Minister for Planning and Local Government, the Hon. Peter Gutwein, has told a CEDA audience in Tasmania .

At the CEDA event, State budget and economic update, Mr Gutwein said that the growing but fragile economy was a key consideration in framing the State Budget.

“In framing the Tasmanian Budget, there were three things that we set out to do,” he said.

“We needed to deliver on our commitments … we needed to begin to fix the budget mess that we were left with … and importantly, we needed to start laying the foundations for the future.”

Mr Gutwein said the budget provides:

  • Immediate economic stimulus and jobs;
  • Structural improvements in the economy; and
  • Strengthening of the community via front-line services.

“The budget saves jobs and supports the economy,” he said.

“By being able to achieve nearly a billion dollars’ worth of savings … it’s enabled us to put the State back on a pathway over a six-year period to returning to surplus.”  

He said a major priority in the Budget was education.

“The budget provides record spending for education – $5.8 billion over the forward estimates period,” he said

“These (education) reforms will bring about structural change within the Tasmanian economy, and we must importantly ensure that we get education right … we have to give more young people an opportunity.”

While investing in the future is important, “we cannot continue to spend more than we earn,” he said.

The Budget “puts the State back onto a pathway to a sustainable financial position … (and it) lays the foundations for the future.”