Notes
Slide Show
Outline
1
Tasmania’s economic recovery:
is it the ‘Real McCoy?’
2
The Tasmanian economy has performed very strongly over the past few years …
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… resulting in a number of improvements in Tasmania’s standing relative to the mainland
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The housing boom has made an above-average contribution to Tasmania’s recent economic upturn
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Good economic policy at the State level has played an important role in these results
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The tourist industry provides a specific example of the benefits of good policy at the industry level
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The Commonwealth government’s contribution to Tasmania’s recovery has been fairly small
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However it’s not clear that there has been a trend improvement in Tasmania’s productivity
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Productivity is ‘what you get out for what you put in’ - and it matters
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Productivity growth is a key driver of both household income and employment growth
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Investment in physical capital is an important driver of productivity growth …
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… and so is investment in human capital
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Tasmania is starting to do better on some  human capital indicators, but results take time
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But it’s also important to monitor quality of outcomes – where Tasmania isn’t doing so well
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Tasmania still ranks poorly on a range of other indicators of social well-being
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Tasmania also ranks poorly on a range of ‘diversity’ indicators
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Tasmania should be seeking to attract more of the so-called ‘creative classes’
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What attracts the ‘creative class’?
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Tasmania now
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Tasmania’s future ...
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Three things Tasmania must now avoid