Message from the Premier
The 2010-11 State Budget will make a difference to the lives of Tasmanians - now and into the future.
In the past year, we have faced the major challenge of the global financial crisis.
Because of the work that Labor has done to build the Tasmanian economy, we have come through this difficult time much better than anyone could have imagined.
There may still be challenges ahead but we are ready to face them.
This Budget sets out our plan for a vibrant and growing state - one which will see the Tasmanian people prosper and our communities flourish.
In the 2010-11 Budget, the Government continues to meet its fundamental commitment to its fiscal strategy, including our pledge to not go back into General Government Net Debt.
That approach has served the Government well and it will continue to keep our economy strong.
Responsible financial and economic management will enable us to fund vital infrastructure and invest in health and education.
Over the next four years, $1.8 billion will be invested by the Government in schools, hospitals, local roads, our highways, community centres and community sports facilities.
That means over $5 billion in total when added to investment by government business enterprises.
Through this Budget, Tasmanians will get better health infrastructure and new technology.
This will mean more access to GPs and elective surgery, as well as better hospital facilities.
We are funding important initiatives for families, such as Child and Family Centres and child health checks.
The 2010-11 Budget will also strengthen services for those most in need.
Funding for Gateways services will make a real difference to the lives of people with disabilities and those who care for them.
Older Tasmanians will benefit from a strategy to address Elder Abuse Prevention.
In education, we will deliver crucial literacy and anti-bullying programs, as well as providing more support for students with special needs.
Through Budget funding to look at climate change adaptation, we will find ways to confront the massive dilemma facing our world.
This Budget sets out a pathway for Labor to deliver on all of its election commitments during this term of Government.
The Budget comes from a strong collaborative approach with the Tasmanian Greens which will bring benefits to all Tasmanians.
It also signals a new era in politics; one which the Tasmanian people want.
The 2010-2011 State Budget Budget will bring us together as a State and make a significant contribution to our collective future.
Message from the Treasurer
The 2010-11 Budget focuses on maintaining Tasmania's record of strong financial management.
The budget delivers a return to an operating surplus of $31.9 million by 2012-13. At that time, Tasmania will be the only jurisdiction in Australia with an operating surplus and no net government debt.
This places Tasmania in the enviable position of having one of the strongest balance sheets in Australia. This is also reflected in Tasmania's Aaa credit rating from Moody's Investor Service, which is better than or equal to any Australian State.
Tasmania fared better than expected during the global recession. Tasmania's 2009-10 operating budget outcome is expected to be $141 million better than originally expected, with a $23.9 million surplus.
Tasmania is returning to pre-global recession levels of economic activity. State Final Demand data from March 2010 shows that Tasmania has now reached a new record level of $6.2 billion in trend terms.
In the 2010-11 Budget, the Government continues its record of delivering on election commitments. A full three quarters of Labor's election commitments are delivered as proposed. All of the remaining commitments are being progressed in this budget and will be implemented during this four year term.
Over the coming financial year and beyond, this Government's focus will be on maintaining its strong financial management and encouraging further economic growth through private and government investment that will deliver jobs and further economic growth.
In 2010-11, Tasmania continues its record infrastructure investment by allocating $725 million. When Government Business investment is included, total government investment will total almost $5 billion over the next four years.
The 2010-11 Tasmanian Budget delivers a strong balance sheet, with the addition of no new taxes, but with land-tax relief of some $28 million over the coming financial year.
This Budget represents the continuation of a sound financial management strategy and will continue Tasmania's recovery from the global recession.