Budget snapshot for Tasmania

2018/19 Federal budget’s initiatives for regional development and Tasmania

Tuesday 8th May Treasurer Scott Morrison announced the Australian Government budget which included some notable investments into Tasmania and some new and updated regional development initiatives.  Here is a snapshot of budget commitments for Tasmania:

  • The Hobart to Burnie freight corridor; $461 million towards the Bridgewater Bridge replacement, $400 million towards improved roads including Bass Highway upgrades, $59.8 million for Freight Rail Revitalisation, and continued expenditure of the $400 million already committed for the Midland Highway upgrade from 2014 to 2024.
  • Scottsdale Irrigation Scheme $25.3 million.
  • Additional Commonwealth supported sub-bachelor placements at the University of Tasmania, 500 in 2018 and 1,000 ongoing places from 2019.
  • Management of the fruit fly outbreak $20 million.
  • National Institute for Forest Products Innovation (continued funding of existing initiative).
  • Quality schools package with additional support for literacy initiatives in Tasmania.
  • P-TECH pilot in Burnie (continued funding of existing initiative).
  • $150 million investment into University of Tasmania’s relocation and expansion of Burnie and Launceston campuses (continued funding of existing initiative).
  • Australian Antarctic Science initiatives; Special Research Initiative in Excellence in Antarctic Science ($8 million per year from 2020 to 2027) and Antarctic Science Collaboration Initiative Grants ($5 million per year from 2019 for ten years).
  • Additional $54.3 contribution to the Launceston City Deal to improve the health of the Tamar River, for the Youngtown Barracks and a business case for a new defence Innovation and Design Precinct.
  • Greater Hobart and South-East Entrepreneurship Facilitator to encourage entrepreneurship among older Australians, from January 2019.
  • A further $200 million to deliver a third round of the Building Better Regions Fund, which will be a nationally competitive grant round.
  • Regional Australia Institute $1.2 million for a national program of inquiry into issues affecting regional Australia.