Both the CommSec State of the States Report and the Deloitte Access Economics Business Outlook for the September Quarter confirm that after three and a half years of Labor and the Greens, Tasmania is an economic disgrace.
Labor and the Greens have failed Tasmanians, despite their excuses and failure to acknowledge that they are completely out of ideas.
The latest CommSec State of the States Report confirms that Tasmania is YET again locked at the bottom of the national economic performance table, lagging the economies of all other states and territories on all of the eight indicators, and recording the weakest trend economic growth rate of -1.8 per cent.
The Report points to a long list of weaknesses in the Tasmanian economy, including a reduction in residential and commercial building activity, home purchases and business investment, and, shamefully, an 8.5 per cent jobless rate - the highest in the nation and up almost 43 per cent on the decade average – the results unfortunately speak for themselves:
The Deloitte Access Economics Business Outlook also confirms what we have been saying all along - that businesses simply aren’t investing in new capacity, and housing construction “remains in the doldrums”. It even goes onto say that the “State’s growth looks likely to stay stuck in the slow lane for a while longer yet.”
And we will never be able to capitalise on the ‘superb strengths’ identified by Deloitte under a Labor-Green minority Government. For example, Deloitte says agribusiness is one of the new waves, yet the Greens oppose salmon farming. Deloitte highlights the importance of tourism, yet the Greens oppose sensible tourism development in and around national parks.