Deloitte, CommSec reports outline stronger Tasmanian economy

“Things are looking definitively better in Tasmania,” its new Business Outlook report said.

“That’s not to say growth has been remarkable, but it has been okay.

“And okay is a standout compared with some dreary years earlier this decade, before the combination of lower interest rates and a lower Australian dollar rode to the rescue.”

It said those factors had helped manufacturing, farming and tourism, while the Hobart real estate market had “come alight”.

Acess forecast modest jobs and population growth in Tasmania for the next few financial years and solid but not spectacular economic growth this financial year and for the next four.

With the state election looming, Treasurer Peter Gutwein used the report to spruik the government’s economic record.

”Under our long-term plan, Tasmania has come a long way after a disastrous period of Labor-Green minority government slammed the state into a deep recession,” Mr Gutwein said.

“ ... Tasmania’s economy is heading in the right direction, but only the Hodgman Government has a clear plan to build on this momentum and take Tasmania to the next level.”

Shadow Treasurer Scott Bacon said Labor was focused on how Tasmania could “keep riding the current economic wave”. 

“That is why we are committed to rebuilding TAFE, investing in productive infrastructure and playing to our economic strengths,” Mr Bacon said.

“Deloitte’s latest report confirms that the improvements in Tasmania’s economy have been down to good fortune, not good management on behalf of the Hodgman Government.”

Meanwhile, CommSec lifted Tasmania’s ranking from fifth out of eight to fourth in its latest State of the States report, behind New South Wales, Victoria and the ACT.

The  “promotion” was due to firmer business investment and the strongest population growth in 6.5 years.