It’s State Budget week

May 23, 2023 1:46 am in by

Budget Image CC BY SA 3.0

Some of the elements of Tasmania’s Budget have been previewed ahead of its release later this week.

The Treasurer’s prefaced a slowing of growth in the economy, but a strengthening of a scheme to help vulnerable households cope with rising costs, including power.

Michael Ferguson’s also outlined a free work readiness programme for 16 to 24 year olds to enter the building industry.

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“What I believe to be one of the biggest enterprises in the state, St Joseph Affordable Homes, as part of Centacare Evolve Housing, helping them get into work and affordable homes sooner.”

High inflation, rising interest rates and global affairs are being attributed to a slowing in the future growth of Tasmania’s economy.

Its expansion in 2021/22 was a robust 4.3 percent, double the national result.

“The state economy is expected to continue by 1.5 percent, in 2022-23 – the current year. That is still growth in the sector,” he said.