The TCCI has welcomed Labor’s plan to rein in spending and commitment to budget repair.

TCCI CEO, Michael Bailey, said getting the State’s finances under control was one of the biggest issues for the business community ahead of the election.

“Labor’s plan to reduce spending by $1 billion is a great start and something that the TCCI supports,” Mr Bailey said.

“Labor’s commitment to use any revenue windfall to help reduce debt and deficit levels is also a sensible step.

“Budget repair is going to require an ongoing effort and ongoing engagement with industry, businesses, community groups, the public sector and the broader community.  A roundtable to discuss further savings would be a good forum to discuss budget repair with a variety of stakeholders.

“Whoever forms the next government is going to have to be incredibly disciplined with spending, because it is going to take a number of years to get the budget back on track.

“We acknowledge it takes courage for an opposition to outline a budget savings strategy during an election campaign, and we look forward to the release of the Liberals’ savings plan.  We believe that budget repair - rather than more spending - is critical at this election and our State needs an ongoing public debate about the best way to put the state budget back on a sustainable path.”

 

The TCCI’s election priorities are – 

1.     Budget Sustainability

o   Restore the budget to surplus through disciplined spending, fully costed savings, and backing the private-sector.

2.     Energy Policy

o   Deliver Marinus Link on schedule, invest in renewable energy, and ensure affordable power for households and businesses.

3.     Governance

o   Introduce a Government-Business Charter to prioritize local contracts, ensure stability, and reform the public sector.

4.     Cost of Doing Business

o   Review business costs and develop a cost index to address rising expenses like power, insurance, and taxes.

5.     Education and Skills

o   Increase workforce participation by addressing barriers (education, transport, health) and supporting the TCCI’s Participation Taskforce.

6.     GBEs and Public Entities

o   Reform Government Business Enterprises (GBEs) and State-owned Companies (SOCs) to align with commercial principles and review TasWater’s regulations.

7.     Health System Review

o   Establish a Commission of Inquiry to improve efficiency and sustainability in Tasmania’s health system.

8.     Infrastructure

o   Develop a priority infrastructure list to guide investments and secure federal funding.