The 2019-20 state budget is the next step in the Hodgman Liberal Government's long-term plan to grow our economy, create jobs, invest in essential services and protect our way of life. In the past five years, Tasmania has come a long way. Today we are a prouder, a more diverse and a much more confident state.
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Our businesses have the confidence to invest, to employ and to think bigger than they ever have before.
Our economy is one of the fastest growing in the nation, almost 13,000 more Tasmanians have found a job since the we came to office, and our reputation as a visitor destination and producer of world-class produce has never been stronger. Tourism is booming, and our construction sector leads the country in first home buyers, approvals, commencements and completions.
But there is still more to do. And that's why this year's budget is all about maintaining the momentum and investing for growth in every region across Tasmania, with a balanced budget in surplus each year across the forward estimates.
The government is unashamedly investing record amounts into infrastructure to drive our economy, which enable us to deliver record investments into health, education and to look after the most vulnerable.
The budget delivers record investments for infrastructure, an unprecedented $3.6 billion to build the hospitals, schools, roads, rail, dams and affordable housing our growing state needs.
These are investments not only to deal with the demands of a growing economy, but are also major job creating projects, supporting employment growth of around 10,000 jobs over the next four years. In Launceston and northern Tasmania, the budget invests $112 million to continue to deliver our 10 year Midland Highway Action Plan, $74 million to deliver the Launceston and Tamar Valley Traffic Vision, and $44 million to deliver safety upgrades and maintenance to roads throughout the region.
With demand for hospital and health services growing rapidly, we are continuing to increase our investments in health to ensure Tasmanians receive care, quicker.
The budget delivers record funding for health, with $8.1 billion in funding over the next four years. This represents an increase of over $544 million on the level of health funding in last year's budget.
Locally, we will invest $76 million towards the 32-bed redevelopment at the Launceston General Hospital, which will include more car parking, new beds and staff in Ward 4K. The government is also investing $2.8 million to upgrade the Campbell Town Ambulance Station and $400,000 to improve Flinders Island health services and patient transport.
These key investments build on the significant progress already made in the past five years, opening more beds, employing more frontline health staff and increasing services. We will also invest a record $7.1 billion over four years in the education of our students and trainees, a $349 million increase from last year's budget. This will enable us to continue the strong progress we are making in lifting education results by better engaging our kids in their education, so they can achieve their full potential.
The budget includes $145 million in funding to employ an additional 358 new staff including 250 new teachers, and $179 million in education infrastructure across Department of Education and TasTAFE facilities. We will build the new $15 million Legana Primary School, invest $7.1 million in redeveloping the Riverside High School and $2.3 million to redevelop the East Launceston Primary School.
A strong performing property market is welcome news for Tasmania's economy, but it is important that all Tasmanians can afford to buy a home that meets their needs.
That's why the government remains committed to helping more Tasmanians buy a home of their own. The budget extends the successful First Home Builders Grant, First Home Owners Duty Concession and the Duty Concession for pensioners downsizing into a more suitable home will be extended.
It is imperative that our property market remains fair and the rate of the Foreign Investor Duty Surcharge will be increased to ensure they pay their fair share of state taxation, and do not artificially drive up prices of housing and primary production land.
Northern Tasmania is rapidly developing a stellar national reputation for successfully hosting major events which draws visitors from around the nation and the world.
To maintain this momentum, the budget makes strategic investments to keep the Supercars at Symmons Plains until 2023 and to extend support for Festivale and Mona Foma. To keep the revitalisation of Launceston's CBD on track the budget includes $50 million to progress the UTAS Inveresk Transformation project. Our long-term vision is of thriving regions across our state, with all Tasmanians benefitting from a strong economy. We want to see a Tasmania that remains at the top of economic performance measures, and where every child has the opportunity to grow up healthy, with a good education and the opportunity of a good job in a prosperous, growing state.
We have come a long way in the past five years and the 2019-20 budget ensures that the momentum is maintained and we are investing strategically so all Tasmanians, in every region can share in a growing, prosperous economy.
