In Business

Tasmania Treasurer Peter Gutwein

Tasmania’s Economy Surges Ahead Says CommSec

Victor P Taffa

October 2019 Commsec State of the States Report, once again confirms that the Tasmanian economy is surging ahead, and that the Hodgman Government’s long-term Plan is working, Treasurer Peter Gutwein said.

According to the report, Tasmania now ranks second out of all States and Territories, which is our best result in 10 years. CommSec’s predictions in July that the Apple Isle would be battling New South Wales and Victoria for top spot are ringing true, with CommSec now saying:

“Tasmania has edged up in the performance rankings, overtaking New South Wales into second position.”

Commsec’s report shows Tasmania is leading the nation on relative population growth fastest growth in nearly 30 years housing starts, equipment investment, vehicle sales and is ranked second for housing finance.

CommSec identified that Tasmania’s annual economic growth rate is 19.3 % higher than its long-term average.

Leading on housing and investment measures is important because it demonstrates our Plan is working to build more houses for Tasmanians, and that our businesses are confident, gearing up, and creating jobs.

“Under Labor and the Greens Tasmania was ranked dead last on CommSec’s measures, and this report confirms we have completely turned that around. Under our Plan, 15,000 jobs have been created, our economy is the fastest growing in the country, and are businesses are the most confident.” Treasurer Gutwein said.

This report is further proof our long-term plan is working to improve the lives of all Tasmanians.

“We know there is more to do and we will continue to maintain the momentum, invest for further growth to grow the economy and create jobs so, we can invest further in essential services and protect the Tasmanian way of life.” Treasurer Gutwein said.


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