Only way to fix the budget is to grow the economy

Release Date: 30/10/2020
The CEO of the Tasmanian Chamber of Commerce and Industry, Michael Bailey, says that there is only one way to fix the State’s budget issues following the release of the Treasurer’s Annual Financial Report today.
“The only way to fix the budget is to grow the economy,” Mr Bailey said.
“The upcoming State Budget needs to lay out a clear plan to grow the economy.  A ‘business as usual’ approach simply won’t cut it.  The Budget will need to answer a few clear questions – how are we going to get cranes back in the sky, bring forward infrastructure investment, keep our skilled workers in the state and most importantly, create more jobs.
“We need an innovative vision that gives business the confidence to invest, grow and employ more Tasmanians.
“The State Government doesn’t have to do all of the heavy lifting, what they really need to do is facilitate a private sector-led recovery. 
“There are a number of options available to the State Government, such as acting on our calls to remove payroll tax while social distancing restrictions are in place.  We would also like to see the Government work with investors who have postponed projects to see the projects come to fruition sooner.  The State Government should also bring forward infrastructure projects from maintenance to major roadworks.
“While the Treasurer’s Annual Financial Report shows that there are challenges ahead for Tasmania, the solutions are certainly not beyond us if we all work together.”

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