Premier Peter Gutwein has painted an expected, yet unpretty picture.
Unemployment levels of 12 per cent in Tasmania are coming.
A net debt of $2 billion by mid next year. A significant decline in Tasmania's GST share.
It's grim reading and enough to make any treasurer slap the calculator on the desk a couple of times to make sure it's working properly.
But it is important we attack the road to recovery with a positive mindset.
Tasmanians can find a level of comfort in the fact Mr Gutwein has rebuilt the state economy once and can do so again.
Tasmania took the coronavirus hit at a time when most of the economic indicators were good.
It must be hoped this gives us a solid position from which to begin the recovery.
Maybe it's the time for a bold and visionary economic reform? The state and national ideas and policies many governments have been scared of implementing due to the possible political fallout.
Deloitte Access Economics' partner Chris Richardson says governments continue spending to keep the economy going and implement reforms to enable businesses to take risks to create news jobs and opportunities. "Go hard and go smart," he said.
The Premier has recruited some strong minds and solid performers as part of his recovery council and they too must think outside the square.
For Tasmania to return to a strong economy and recover from the coronavirus, we must play to our strengths.
Finding ways to give our primary industries early access to the markets they have established over years will be important. It could also be a chance to reset some of our reliance on commodities, and get into more high-value markets.
Tourism has become such an important part of our economy, and must be high on the list as soon as borders can be reopened.
Tasmania will never succeed by following the crowd.
It must continue to be unique and create an environment whereby traditional and new industries can thrive.
Let's think big.
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