State Final Demand data released by the Australian Bureau of Statistics (ABS) today has again shown that the Tasmanian Liberal Government’s long-term plan to grow the economy and create more jobs is working with Tasmania outstripping national economic growth over the past quarter.
Premier, Jeremy Rockliff said Tasmania experienced the second-highest growth of any state.
“Today’s data is a testament to the resilience of the Tasmanian economy,” the Premier said.
“Tasmania has grown over the past quarter by 1.5 per cent, outstripping the national growth rate of 0.5 per cent.
“We know that families and businesses are suffering from Federal monetary policies, including 13 interest rate rises. Yet, despite this, our careful, strategic long-term plan has meant that Tasmania’s economy continues to grow, and Tasmanians have remained employed.
“Tasmania was a leader of the economic recovery out of COVID-19 and has managed to grow again despite the strong national headwinds.
“Our Government knows that creating employment opportunities are crucial to combat these headwinds.”
Today’s results are on the back of last month’s Gross State Product (GSP) results which showed a growth of 1.1 per cent in 2022-23. This was following on from the previous two years of remarkable growth in GSP, at 4.3 per cent and 5.0 per cent.
Tasmania also has nation leading business conditions as backed in by NAB data last month which further demonstrates our long-term plan is working.
Treasurer Michael Ferguson welcomed the data and noted that, once again, the Rockliff Liberal Government’s positive plan to get on with the job of doing what matters for all Tasmanians leaves behind the relentlessly negative opposition who’s only dream for Tasmania is to see it go backwards.
“Labor’s doom and gloom cheerleader, Dr Broad does nothing but constantly talk Tasmanian down and has been dreaming of a negative growth outcome for over a year,” the Treasurer said.
“Yet again, after claiming and hoping for a recession for 18 months now, Broad’s negativity has been proven wrong.
“Tasmanians want their Government to fight for them, not against them.
“Over the past nine years, our Government has demonstrated that our long-term plan delivers a strong economy and we will continue delivering what matters to Tasmanians.”
