Private New Building Capital Expenditure Up 4.1% Over Last 12 Months

Private New Building Capital Expenditure Up 4.1% Over Last 12 Months

Tasmania Treasurer Peter Gutwein

Massive Surge In Private Sector Building

Victor P Taffa

The latest Australian Bureau of Statistics figures (ABS) show that there has been a massive surge in private sector building in Tasmania over the past 12 months, Treasurer Peter Gutwein said.

Private new capital expenditure data shows that businesses invested $89 Million in new buildings and structures in the June quarter this year.

Over the last 12 months, total private new capital expenditure in Tasmania grew at the second fastest rate in the nation. Tasmania’s 4.1 % increase was way above the national average of a 15.2 % decrease.

“Tasmanian business confidence is amongst the highest in the country and when businesses are confident they are more likely to invest.” Treasurer Gutwein said.

“Since the Hodgman Government was elected, total business capital investment has increased by 13 % and business investment in buildings and structures is up a whopping 53 %.”

“We know that there is still more to do and that’s why we are working with the business community to grow the economy and create jobs.” Treasurer Gutwein said.