Tasmania’s government has revealed its 2024-25 Budget, a key move towards achieving the ambitious 2030 Strong Plan for the state’s future. With a focus on essential areas like health, housing, education, and infrastructure, the budget aims to make Tasmania an outstanding place to live, work, and raise a family, particularly in the face of rising cost-of-living challenges.
Premier Jeremy Rockliff described the budget as an essential investment in the well-being of Tasmanians, ensuring that support is directed where it’s most needed. Over the next four years, the government will allocate more than $12.9 billion to health and $9.4 billion to education. These investments reflect the state’s commitment to long-term improvements in critical services for Tasmanians.
One of the budget’s top priorities is addressing the cost of living, a growing concern for households. The government has committed over $550 million in relief to help families and individuals manage everyday expenses. Rockliff emphasised the importance of “record cost-of-living relief” as part of the broader 2030 Strong Plan, which includes concessions on electricity, council rates, and water services. For instance, $211 million will go towards electricity concessions, while nearly $90 million is being allocated to support pensioners with local government rates.
The budget builds on early successes, such as halving bus fares and introducing the Renewable Energy Dividend. These actions have already provided noticeable relief for Tasmanians by addressing transport and energy costs, two areas where households have been particularly affected.
Health and education dominate the budget, with more than half of government spending being directed towards these sectors. The government is committed to improving Tasmania’s healthcare system, where demand has been increasing. The $12.9 billion health investment will help expand facilities, improve patient care, and strengthen the workforce. In education, the $9.4 billion allocated will enhance school infrastructure, support teachers, and provide opportunities for students to thrive, ensuring that Tasmania’s future generations are well-prepared for the challenges ahead.
The infrastructure segment of the budget remains strong, with $5.1 billion committed to critical projects that will benefit the economy and improve services. These projects include upgrades to roads and bridges, as well as key developments in health and education facilities. The government also continues its housing strategy, aiming to build 10,000 social and affordable homes by 2032. With $550 million allocated for this purpose over the next four years, the housing investment is designed to address Tasmania’s growing housing shortage and provide greater stability for residents in need.
A notable component of the budget is the investment in child protection services. The government has set aside $425 million to address the recommendations of the Commission of Inquiry into child sexual abuse in state care. Treasurer Michael Ferguson stressed that this investment is part of the government’s commitment to safeguarding Tasmania’s children. The funding will modernise protective systems and ensure that children are safe from harm. This effort also acknowledges past failures and represents a renewed focus on protecting the vulnerable.
Ferguson also highlighted the government’s responsible approach to managing the state’s finances. While the budget includes significant investments in key areas, it charts a careful path back to financial balance, with a forecasted small deficit of $63.2 million by 2027-28. This gradual approach to fiscal recovery is intended to avoid drastic cuts to services and infrastructure, which would have hurt business confidence and led to job losses.
Despite the increased spending, the government has committed to maintaining a business-friendly environment, with no new taxes introduced. Tasmania is forecasted to have one of the lowest levels of net debt among Australian states by mid-2025, a sign that the government’s economic strategy is on the right track. By encouraging investment and maintaining low debt, Tasmania is positioning itself for sustainable economic growth.
The housing sector is one of the standout areas in the budget, particularly as Tasmania faces an ongoing housing shortage. The government’s commitment to building 10,000 affordable homes by 2032 is a major part of its strategy to support those struggling to find housing. With $550 million being invested over the next four years, the government hopes to alleviate pressure in the housing market, making homeownership and rentals more accessible for residents. This effort is crucial for stabilising the market and ensuring that all Tasmanians have a place to call home.
The budget marks a significant step forward for Tasmania, laying the groundwork for a strong future built on essential services, infrastructure, and a commitment to the people. Through careful planning and strategic investment, the government is ensuring that Tasmania remains a desirable place to live, with opportunities for families, businesses, and individuals to succeed.
This vision of Tasmania’s future is closely aligned with the 2030 Strong Plan, which is designed to create long-term benefits for the state and its people. By focusing on health, education, housing, and cost-of-living relief, the government is investing in Tasmania’s most important assets—its residents. The 2024-25 Budget reflects a balanced approach, one that prioritises the immediate needs of the population while also planning for sustainable growth over the next decade.
Tasmania’s 2030 Strong Plan continues to take shape, with this latest budget setting the stage for further progress. By committing to significant reforms and investments, the government is laying the foundation for a future where Tasmanians can thrive, with access to quality healthcare, education, housing, and services. The road ahead is ambitious, but with prudent financial management and a focus on the needs of the people, Tasmania is well on its way to achieving its long-term goals.
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