The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
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Nick Sherry

Assistant Treasurer

9 June 2009 - 14 September 2010

Media Release of 12/10/2009


Joint Media Release
Dick Adams MP
Member for Lyons

Tasmania Leads the Way in Combating Global Recession

Assistant Treasurer and Labor Senator for Tasmania, Senator Nick Sherry, and Dick Adams MP, Federal Member for Lyons, have welcomed the results of a leading survey showing Tasmania has the best performing economy in Australia.

The CommSec Economics Report places Tasmania at the top of the pack on a state-by-state analysis, when judged across eight key indicators.

"This survey is great news for Tasmania, showing how far our state has come in such a short time," the Assistant Treasurer said.

"As the report points out, Tasmania has improved its employment record remarkably in the past decade and now has the lowest jobless rate of any state."

"The Rudd Government's stimulus strategy is supporting Australian and local Tasmanian jobs and businesses in these difficult times and is designed to continue to cushion the economy from the worst effects of the global recession," the Assistant Treasurer said.

Mr Adams said the survey was a testament to the hard work and forward thinking of Tasmanians.

"We have successfully diversified our economy and this has helped us withstand the worst of the global recession," Mr Adams said.

"Local businesses have led the way in adapting to the demands of the market, developing new opportunities for uniquely Tasmanian products."

"But there's no doubt the situation would not be as encouraging as it is without the substantial resources and stimulus funding the Rudd Government has provided."

"No wonder our population is growing – Australians are discovering what we've always known, that Tasmania is a great place to live, work and do business."

The Assistant Treasurer said the CommSec survey follows Tasmania's strong trade figures for the year to June 2009, released earlier this year.

"The annual trade figures showed Tasmania held onto its export markets in the face of the global recession, managing to export three times as many goods as it imported," the Assistant Treasurer said.

"There's a long way to go before we can say goodbye to the global recession, but Tasmania's economic performance offers hope to all of Australia."

12 October 2009