Tasmanian Treasurer Michael Ferguson announces a record $5.1 billion infrastructure spend days out from this year's state budget, despite a warning from an independent review.
Tas mania will spend a record $5.1 billion on infrastructure over the next four years, which the treasurer says is a balanced decision to support jobs.
The 2024 budget will be released against a backdrop of a slowing economy and a dire economic outlook foreseen by a top economist. Mr Eslake recommended scaling it back from just under 7 per cent of gross state product , to around 4 per cent. He said he had opted not to pursue revenue-raising measures suggested by Mr Eslake in his review, such as replacing stamp duty with land tax, or broadening the payroll tax base — and that the government would provide a full response to the review later in the year.Spending an 'investment in the economy'
"Looking at supplementing and increasing, or I guess, underpinning the spend in the commercial and civil sectors is a really good thing for building confidence," Mr Clerk said. "This government has nothing to show for record deficit and debt, apart from an economy that is flatlining public services that are at breaking point," Shadow Treasurer Josh Willie said.
Tasmania Budget 2024 Michael Ferguson
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