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2019 State Budget: key points

Gutwein Budget Speech

Treasurer Peter Gutwein has handed down the 2019-20 State Budget in Parliament.

A statement from the Tasmanian Government reveals the key points:

• Record $3.6 billion investment into intergenerational infrastructure, including $2.8 billion in agency-funded infrastructure and nearly $800 million in equity investments into government businesses and TasWater.

• Maintaining our record of strong fiscal management – $57.4 million surplus expected in 2019-20, and surpluses in every year of the Forward Estimates.

• Agency-funded infrastructure investment includes:
o Roads and bridges ($1.6 billion)
o Hospitals and health ($352.6 million)
o Schools, education and skills ($194 million)
o Affordable housing and human services ($212 million)

• Record health and hospital funding of $8.1 billion over four years, an increase of $544 million more than the 2018-19 Budget, and over $2 billion more spent on health over 4 years than in the 2013-14 budget.

• Record education funding of $7.1 billion over four years, an increase of $349 million more than the 2018-19 Budget.

• The Budget brings forward $20 million as part of the Government’s $125 million Stage Two Affordable Housing Action Plan, which takes our total investment into affordable housing to almost $200 million over eight years. It also extends the First Home Buyer Grant and First Home Buyer Duty concessions to help even more Tasmanians into their first home.

• Significant government business equity investments include, over the Budget and Forward Estimates include:
o $170 million for the Pipeline to Prosperity – our investment into Tasmanian Irrigation to take Agriculture to the next level.
o $180 million over four years to TasWater to accelerate its infrastructure program, and support major projects such as the removal of the wastewater treatment plant at Mac Point, the Launceston wastewater and sewerage combined system improvements and the Freycinet Peninsula wastewater system.
o $256 million for TasRail’s Tranche 2 and 3 programs and the construction of a weighbridge at Parattah.