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Tasmanian Business Reporter June 2018

Welcome to the June edition of the Tasmanian Business Reporter. This month, as parliament settles in after the unexpected events of its first week, Editor Tom O'Meara takes a look into what can be expected from the upcoming State Budget, with strong development and expenditure predicted in areas of health, education and tourism. We'll also bring you the details of the $119.6 million boost for TasRail's capacity to deliver freight around the state, the $190 million hardwood mill for Hampshire in the north west and the purchase of Hobart's Midcity Hotel by the University of Tasmania.

Tasmanian Business Reporter June

JUNE 2018 T A S M A N I A’ S L E A D I N G B U S I N E S S P U B L I C A T I O N . C I R C U L A T I O N 12,000 M O N T H LY Tasrail on track Treasurer Peter Gutwein, left, congratulates Tasrail CEO Steven Dietrich on winning Federal funding for upgrades. The Federal Budget saw record infrastructure funding flow to Tasmania, with TasRail welcoming new funding for rail upgrades. Details page 3. Budget to boost jobs By TOM O’MEARA TASMANIANS can expect this month’s State Budget to boost expenditure – creating development, more jobs and a healthier economy. Treasurer Peter Gutwein’s fifth budget will open further opportunities for business to expand and create employment, while reducing the cost of living to assist the many Tasmanian families battling ever-increasing expenses. Mr Gutwein has turned around the Tasmanian economy by spending less and saving more and is now in a stronger position to grow the economy by delivering on election promises. This is despite the future of GST funding from the Federal Government remaining – although Prime Minister Malcom Turnbull has personally guaranteed that Tasmanians will not be a cent worse off than under current funding. Treasury will receive a hefty windfall through a significant increase in stamp duty returns from record house sales and prices, particularly in Hobart, Launceston and Devonport. The Budget is expected to deliver record spending in health and education through infrastructure developments and 250 additional teachers over six years, 300 nurses and 200 doctors. The $689 million re-development of the Royal Hobart Hospital continues, with completion expected in mid-2019. The Government will invest $160 million to support better health in Northern Tasmania including development at the LGH of a new women and children’s precinct on top of the proposed 4K project. The future of the $100 million co-located private hospital to replace the two ageing Calvary Hospital sites is still in the hands of Coordinator General John Perry. However the Treasurer and Health Minister Michael Ferguson would be unlikely to not support the $100m infrastructure Continued page 2 S TAT E BUDGET BRIEFING FRIDAY 15 JUNE ▼ HOBART ▼ LAUNCESTON ▼ BURNIE PRESENTED BY TREASURER PETER GUTWEIN MP BOOK NOW 1300 559 122