Tasmania Pleased With MYEFO Report

Tasmania Pleased With MYEFO Report

Tasmania Treasurer Peter Gutwein

MYEFO – Steady As It Goes For Tasmania

Victor P Taffa

Treasurer Peter Gutwein said that the Federal Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) present a steady-as-it-goes approach to Tasmania, upon preliminary analysis.

“Pleasingly it confirms that the 2016 Federal election commitments are all funded including the UTAS redevelopment in the North and North West, the Regional Jobs and Investment Package, and the National Institute for Forest Products Innovation in Launceston.” Treasurer Gutwein said.

“While it’s disappointing that the Green Army has been scrapped, it’s reassuring to see that existing contracts and election commitments under the Green Army program will continue to be funded.”

In terms of GST across the forward estimates, MYEFO presents a relatively neutral GST impact in total over 4 years of a $12.1 Million reduction, as a result of a smaller national pool offset by a projected larger population share for the state.

With around $10 Billion in GST receipts being received over this period it is but a fraction of a percentage change.

Further financial analysis will occur in preparation for the State’s Mid-year update which will be handed down early in the new year.

“Tasmanians can be assured, the Hodgman Liberal Government will continue to work cooperatively with the Federal Government to get the best possible results for our state.” Treasurer Gutwein said.