The Pre-Election Fiscal Outlook (PEFO) confirms Tasmania’s Budget has significantly improved, jobs have rebounded strongly and our economic outlook is positive with strong growth expected.
Despite COVID, the Net Operating Balance improves by $607 million over the Budget and Forward Estimates, and Net Debt improves by almost $600 million this financial year, with continued improvement over the forward estimates.
There is significant jobs growth over and above what is already forecast.
As a result, Treasury has revised upwards its economic forecasts across all key indicators, with larger than expected growth in our economy, employment and participation.
The Report notes growth in GST receipts and own-source revenue up $741 million compared to the same time last year, as a result of Tasmania’s nation-leading economic recovery and burgeoning local economy.
A strong economy and responsible budget management allows us to invest in the essential services Tasmanians need, and only a majority Liberal Government has the track record to deliver this.
Labor has already announced a completely unachievable, unbelievable and unsustainable election spend, which would deliver Tasmanians the same result it did last time they were in minority Government – an economy in recession, a health budget slashed and 10,000 jobs lost.
As Deloitte reported just yesterday, Tasmania’s economy has come through COVID better than just about anywhere else because of our management of the pandemic.
Today’s report confirms that only a majority Gutwein Liberal Government can be trusted to manage Tasmania’s post-COVID recovery.