Treasurer Michael Ferguson says next week’s Tasmanian state budget will target jobs and cost of living

Next week’s state budget will focus on jobs, easing cost of living pressures and delivering the government’s election promises, Treasurer Michael Ferguson says.

Treasurer Michael Ferguson delivers the 2023 state budget in parliament. Picture: Nikki Davis-Jones

Next week’s state budget will focus on jobs, easing cost of living pressures and delivering the government’s election promises, Treasurer Michael Ferguson says.

Mr Ferguson will hand down his third budget on Thursday. It is months late because of the state election and will be handed down amid increasing concerns about the sustainability of the state’s finances.

The government earned $8.5bn and spent $10bn last financial year – delivering a record

$1.5bn deficit rather than the $297m forecast, the revised estimates report shows.

Mr Ferguson said the 2024-25 State Budget aimed to boost jobs in frontline services and deliver economically productive infrastructure.

“It will continue to back in our essential services, with increased funding to support our ever-increasing frontline,” he said.

“And importantly, it will take strong action on the cost of living to help those Tasmanian families and businesses who are doing it tough in the face of a challenging national economy.”

Greens leader Rosalie Woodruff said the government needed to ensure the budget helped those doing it tough.

Greens leader Doctor Rosalie Woodruff during House of Assembly question time. Picture: Nikki Davis-Jones

“The upcoming budget will show the Liberal’s priorities in black and white. The Greens sincerely hope they choose to put the interests of struggling Tasmanians ahead of unnecessary spends like a stadium,” she said.

“Tasmanians are fighting to keep a roof over their head, as the price of essentials like groceries, power and housing keeps rising/

“Rights for renters, as well as free education and transport, will go a long way to helping Tasmanians in need.

“Tasmania has under-regulated Airbnb and some of the weakest protections for tenants in the country, and this is costing renters.

“The Liberal government can stop unreasonable rent increases, introduce minimum standards for appliances in rental properties to bring down power bills and regulate Airbnb to free up housing.

Mr Ferguson said the budget reflected decisions made by the Liberals in the best interests of Tasmanians.

“Although the national economic pressures are very real, there is optimism for better times ahead. The state budget will support jobs and ensure continued investment in key infrastructure and services while taking strong action to support Tasmanian families and businesses facing national economic pressures,” he said.

“As we forecast in last year’s budget, the state has been faced with challenging national economic headwinds, with strong inflation and higher interest rates.

“Those conditions have only intensified on Tasmanians as a product of decisions made at the national level.

“But despite the difficulties, the Tasmanian Liberal government remains resolute in delivering on its commitments to safeguard the state’s future.

“We are focused on ensuring Tasmania emerges from these challenging times even stronger, with a clear plan that reflects the needs of our community and a government committed to delivering on it.

Originally published as Treasurer Michael Ferguson says next week’s Tasmanian state budget will target jobs and cost of living