In pleasing economic news, the Australian Bureau of Statistics has today released data showing that Tasmanian businesses invested a record high of $586 million for the June 2024 quarter.
Tasmania also recorded the strongest growth in the nation. Business confidence is critical to the more than 41,000 small businesses which are the engine of our economy, and this data supports the most recent NAB survey showing Tasmania to have the strongest business confidence in the country.
Compared to the June 2023 quarter, total Tasmanian investment grew by 35.0 per cent in trend terms, with a 75.6 per cent growth in investment in buildings and structures, and 17.7 per cent growth in equipment, plant and machinery investment.
This very strong growth is far and away the strongest growth of all states and territories, with the next strongest jurisdiction being the Northern Territory at 26.0 per cent.
Supporting industry to grow, invest and employ more Tasmanians is a key part of the Tasmanian Liberal Government’s 2030 Strong Plan for Tasmania’s Future, and with the unemployment rate at a near-record low of 4.1 per cent, it is clear that our Plan is working, while Labor’s relentless negativity continues to be rejected by Tasmanians.
