Peter Gutwein,Premier
Treasurer
The September Quarterly Report 2021-22 released today confirms the 2021-22 Budget remains on track.
While seasonal and timing factors impact the State’s finances early in the financial year, revenue and expenditure for the quarter is consistent with Budget estimates.
Pleasingly, infrastructure investment expenditure was $139.1 million, which is $35.8 million, or 35 per cent greater than the September quarter last year – reflecting the strong infrastructure program we laid out last year to create jobs and help Tasmania through the COVID-19 pandemic.
The State’s strong financial performance reflects the ongoing strength of the Tasmanian economy, and there is no doubt Tasmania has come roaring back.
Last week’s ABS figures confirmed that Tasmania’s economy is leading the nation, with State Final Demand, a key measure of economic activity, up by 4.2 per cent in the September 2021 quarter in real seasonally adjusted terms – the fastest growth in the nation, and in contrast to a decline seen nationally.
These results do not come by accident and reflect the confidence and hard work of Tasmanians, our status as one of the safest jurisdictions in the world and our flexible and adaptive response to COVID-19.
It demonstrates that our clear plan to support our community and economy throughout the pandemic is working and we will continue to do all we can to keep the momentum going as we secure Tasmania’s future.
Further updates to the State’s finances will be provided in the Revised Estimates Report 2021-22 which is due for release by 15 February 2022.
