QUICK FACTS
In the last 10 years since the election of a Liberal Government:
- There has been 53,000 more jobs created
- A 36.3 per cent growth in State Final Demand
- Infrastructure investment has quadrupled
- We have a better performing economy in all key economic measures
An important part of our 2030 Strong Plan for Tasmania's Future is creating the jobs we need to ensure that Tasmania remains the best state to live, work and raise a family.
That’s why a re-elected majority Liberal Government will:
- Enhance our Buy Local policy to support more Tasmanian businesses by lifting the local weighting test to 30 per cent.
- Stimulate economic growth by growing the capacity to invest in Tasmanian projects through the Tasmanian Development Board.
- Invest in and help commercialise Tasmanian projects and products.
Buy Local – increasing local weighting test to 30 per cent
The Tasmanian Liberals are committed to supporting Tasmanian businesses to thrive, hire more staff and invest in our local economy. Our Buy Local Policy was implemented soon after we came to office, and now we’re strengthening it even further to create even more opportunities for Tasmanians.
In 2014, we introduced the Buy Local Policy, an initiative aimed at bolstering opportunities for Tasmanian businesses and suppliers to secure government contracts. A decade later, the impact is evident with 81.6 per cent of contracts awarded by the Tasmanian Government in an open procurement process greater than $50,000 in 2022-23 won by Tasmanian businesses, a significant rise from the 63.3 per cent when we took office in 2014.
The total value of these contracts injected a substantial $918.2 million into the local economy, compared to $39.6 million in 2014.
During the challenging times of the COVID-19 pandemic in 2020, the Liberal Government responded swiftly by enhancing the Buy Local Policy. We introduced a more comprehensive Economic and Social Benefit Test, reinforcing our commitment to supporting Tasmanian businesses.
As part of this enhancement, we increased the weighting in competitive procurement for contracts exceeding $100,000 from 20 per cent to 25 per cent of the total evaluation criteria, reflecting the government's dedication to local economic development.
A re-elected majority Liberal Government will elevate this commitment further, increasing the weighting in competitive procurement processes to 30 per cent of the total evaluation criteria.
This forward-thinking approach ensures a sustained focus on local Tasmanian suppliers, ensuring that both economic and social factors are considered in government procurement decisions. The proposed increase in weighting reaffirms the government's focus on nurturing local businesses and fostering a thriving community.
Recognising the need for continuous improvement, a re-elected majority Liberal Government will also update our procurement practices to ensure they are contemporary and match business needs and capacity. This proactive step emphasises our commitment to optimising outcomes for Tasmania, ensuring that the evolving needs of businesses and communities are met effectively.
This is in addition to our recent commitment to genuinely slash red tape to make it simpler for small businesses to tender for government projects. We will introduce a single form tendering process specifically designed for small businesses for all projects valued up to $250,000.
Further stimulate investment and economic growth
The Tasmanian Liberals will update the Tasmanian Development Act 1983 to make it more contemporary and include the ability to resolve complex development matters.
The Tasmanian Development Board will be enhanced to further encourage development and the creation of jobs. As Tasmania confronts national and international economic headwinds, the Tasmanian Development Board will play an increasing role in Tasmania’s economic development.
There is currently a $10 million limit in the Act, constraining the Tasmanian Development Board’s ability to invest in projects, keeping Tasmanian taxpayers’ funds to grow and develop.
Through updating the Act, the ability of the State to co-invest in strategic projects that benefit Tasmania will be lifted to $35 million.
The $10 million limit was set in 1999 and this has hamstrung investment opportunities and not kept pace with inflation and the modern investment landscape. This is constraining the ability to take equity investment in projects and not achieving the best value for money outcomes for the state.
A re-elected majority Liberal Government will also update the Act to contain mechanisms to plan, deliver and coordinate large-scale projects. These legislative updates will be developed utilising learnings from the Queensland model of the Coordinator-General and major project facilitation.
The Tasmanian Liberals know the importance of a strong and certain investment environment. These updates will provide the private sector with the confidence required to invest in Tasmania.
A re-elected majority Liberal Government will invest to maximise long-term economic benefits to the state. Sectors for pro-active government support and co-investment could include:
- advanced manufacturing
- sustainable energy and manufacturing
- renewable energy
- international education
- the visitor economy, including tourism and hospitality
- food production, including agrifood
- technology and research.
The Tasmanian Development Board will be supported to increase the commercialisation of innovative products and projects in Tasmania and attract and retain activities in the state.
Net Cost: Nil