Media release – Launceston Chamber of Commerce, 22 August 2024
Launceston Chamber responds to Saul Eslake Report
The Launceston Chamber of Commerce welcomes the release of Saul Eslake’s ‘Independent Review of Tasmania’s State Finances’ which was submitted to the Premier of Tasmania, the Hon. Jeremy Rockliff MP, and the three Parliamentary Members of the Jacqui Lambie Network on 19 August 2024. The Report presents a sobering, but thorough and insightful analysis of Tasmania’s economic landscape.
“The report’s findings that Tasmania’s fiscal position has deteriorated over the past decade, despite favourable economic conditions in recent years, are concerning. The implications of ongoing deficits, increasing debt, and the potential downgrade of Tasmania’s credit rating could have far-reaching effects on our economy and the business community.” said Alina Bain, CEO of the Launceston Chamber of Commerce.
Ms Bain said, “The Chamber supports the Report’s recommendations for a more strategic approach to public infrastructure spending, ensuring that projects are prioritised based on their social and economic benefits. This approach will help to ensure that public funds are used efficiently and that infrastructure development supports sustainable economic growth.
“Businesses in Tasmania have great potential for growth across various sectors, driven by the state’s unique geographic, economic, and cultural attributes. To realise this potential, there is a key role for all three levels of Government in delivering economic development projects which focuses on and enables businesses to be the driver of economic growth in Tasmania. These are measures that encourage economic growth and support local businesses and deliver demand and revenue generation to enable businesses to grow.
“The Chamber encourage all political parties to engage in a constructive dialogue on these issues and to work collaboratively towards achieving the fiscal sustainability targets proposed in the report. A bipartisan approach will be essential to restore confidence and ensure that Tasmania remains an attractive place for business investment and economic growth.
At the very least, the Chamber urges the Government to deliver on the following commitments:
Feasibility Study for a Conference Centre in Launceston. The funds have been committed but not yet released for the commissioning of the study. We seek action by the State Government to release the funding.
Spirit of Tasmania port construction. The Chamber seeks answers to its media release of 15 August about the failed port construction for the new Spirit/s of Tasmania.
Renewable energy projects at Bell Bay. The Chamber’s offer of assistance by the private sector to address issues such as worker accommodation at Bell Bay, have not been taken up by the State Government.
These are just three examples where the Government can deliver on existing financial commitments and in doing so, drive economic activity in the north of Tasmania. These projects will deliver demand and revenue generation which will enable business to grow and deliver economic activity to the state.
