A strong plan for the future and a proud record of delivering for Tasmania

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3 May 2016

"The Turnbull Government's Budget yet again shows our commitment to ensuring Tasmania successfully navigates the transition to a more diversified and stronger economy," said the Minister for Tourism and International Education, Senator Richard Colbeck.

"This is a strong plan to ensure greater growth and more jobs for the Tasmanian economy, while also taking into account the fact that we must live within our means."

Tasmania is set to benefit from tonight's Federal Budget.

Middle income earners will see tax relief through the increase of the middle tax bracket threshold from $80,000 to $87,000 from 1 July this year, benefiting almost 40,000 Tasmanians.

Cutting the company tax rate to 27.5 per cent for those with a turnover of less than $10 million annually will significantly help the 36,800 small businesses that employ 100,000 Tasmanians thrive and create more jobs.

Tasmania will benefit from an $840.3 million investment over four years in a Youth Employment Package (Youth Jobs PaTH) to assist vulnerable young people take advantage of job opportunities as the economy diversifies and transitions to broader-based growth.

We are also introducing the most significant package of national education reforms in a generation. Total Commonwealth funding to schools across Tasmania will increase by $62 million by 2018-19.

The Government will provide up to $2.9 billion in additional funding to the states and territories to support public hospitals. Funding will be continued for the Mersey Community Hospital.

We are committed to tackling domestic violence with $1.05m to be provided for a Specialist Domestic Violence Unit in North-West Tasmania, operated by the Women's Legal Service Tasmania.

The productivity of Tasmania's agriculture sector will be enhanced through the Sustainable Rural Water Use and Infrastructure Programme which includes $200 million to support the construction of dams and backbone irrigation infrastructure.

Also, $20.4 million will be provided in 2016-17 for the Freight Rail Revitalisation programme in Tasmania and our state will benefit from the extension of the Bridges Renewal Programme to upgrade and repair bridges in our regional areas.

Tasmania's reputation as an international gateway to Antarctica is enhanced with the Turnbull Liberal government committing to the single-biggest Antarctic investment by an Australian government.

New funding of $2.167 billion delivers key priorities under the Australian Antarctic Strategy and 20-year Action Plan and includes Australia's new icebreaker.

The Tasmanian wine industry will be in a stronger, long-term position with a record investment in international and domestic wine promotion, a strengthening of the Wine Equalisation Tax (WET) integrity rules and reducing the WET rebate.

The $50 million saving will be directed to promoting Australian wines internationally and creating wine tourism for regional areas, while the rebate changes will benefit many new whisky distillery start-ups in Tasmania.

These measures announced tonight will bring the WET back to what it was intended - to support small and medium businesses.

Tonight's Federal Budget is a further demonstration of a commitment to building a strong and sustainable Tasmania.

Since 2013 the Tasmanian Federal Liberal team has been working and delivering in the state's best interests:

  • Addressing Tasmania's energy security, with the announcement of a feasibility study into building a second interconnector for Bass Strait.

  • $38 million for the Hobart Airport runway extension, which will help meet tourism growth targets and provide a boost to Tasmania's premium food and wine exporters.

  • Establishing the Joint Commonwealth and Economic Council, which is tasked with identifying opportunities to boost Tasmania's economy.

  • Launched the Major Projects Approvals Agency which has resulted in more than $450 million of investment.

  • $203 million expansion to the Tasmanian Freight Equalisation Scheme.

  • $400 million funding to continue the upgrade of the Midland Highway.

  • $50,000 to establish the Tasmanian Horticulture Market Growth Project, a key recommendation of the Tasmanian Fruit and Vegetable Taskforce.

  • $13 million provided to the University of Tasmania for the Sense-T project, boosting information, technology and communications in Tasmania.

  • $60 million to Tasmanian Irrigation's Tranche Two schemes.

  • Secured trade agreements with China, Japan and South Korea which are already boosting export opportunities and creating more jobs.


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