The release of the Revised Estimates Report 2019-20 confirms the Tasmanian majority Liberal Government's strong budget management, with the continuation of a surpluses forecast this year and across the forward estimates, despite significant revenue write-downs in GST receipts to the State.
The Government is delivering its long term plan to grow and protect Tasmania's nation leading economy, and with strong fundamentals and despite international and national headwinds, we are pleased that economic growth for the state has been revised upwards, demonstrating that our plan to invest for growth and maintain the momentum is working.
With a responsible and sensible approach to budget management, we will continue to focus on building a stronger economy, to support and grow business confidence and to create more opportunities for Tasmanians.
Because of our strong financial position, we are now able to make significant new investments into the essential services we need. Now is the time to deliver our next major step-change in our health sector.
While we are already investing a record $8.1 billion into health over four years; delivering better infrastructure and more doctors, nurses and paramedics, we know there is more that needs to be done to continue delivering better outcomes for Tasmanians.
That is why we are announcing today an additional $600 million over four years for health, and a guaranteed quarantine of health from further budget savings over the forward estimates, providing a further $87 million in the Department of Health. This investment will lock in our current resourcing to address the unprecedented demand on our hospitals and will underpin improved health outcomes.
It has taken a majority Liberal Government to deliver the plan which has taken the Tasmanian economy from strength to strength, creating 20,000 new jobs and nation-leading business confidence. We’ve kept the budget in surplus – forecasting for the fifth year in a row– and that means more money to invest in essential services that Tasmanians need.