New report shows investment challenges ahead, budget needs to outline clear plan

Release Date: 4/11/2020
The Deloitte Access Economics Investment Monitor, released today, shows why it is critical for the Government to work with the private sector to encourage investment.
TCCI CEO, Michael Bailey, said the headline figure of a 32.4 per cent reduction in projects under construction in Tasmania this September compared to last September, reflected the fact that a number of major projects have wrapped up in the past 12 months.
“The Government needs to be working with the private sector to bring forward more investment to replace the recently completed projects,” Mr Bailey said.
“A number of construction projects in Hobart have recently wrapped up, such as the Crowne Plaza and the Royal Hobart Hospital redevelopment.  We will also see the Parliament Square redevelopment come to an end in the near future too.
“What we need to avoid is going from boom to bust.  COVID has made that even more difficult, but we need to work hard to build confidence, save jobs and retain skilled workers in the state.  To do that, the Government needs to work with the private sector to deliver a consistent pipeline of projects.  We also need local government to play their part and support investment.
“We will be looking to next week’s budget to provide the clear strategy we need.” 

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