New data has shown that the number of Tasmanian businesses going bust is surging under the Rockliff minority government, with a more than five-fold increase in insolvencies compared to two years ago.
The latest insolvency statistics from the Australian Securities and Investments Commission shows that during the first half of the 2024-25 financial year 64 Tasmanian businesses entered external administration or had a controller appointed.
That's a 481 per cent increase for the same period just two years ago when 11 insolvencies were recorded for the same period, and by far the worst result in any state, with Victoria recording the second highest increase of 110 per cent.
It's no secret that insolvencies have gone up across the country, but the data clearly shows Tasmania is on a different level and the Liberals can't be trusted with the Tasmanian economy.
The business community has publicly declared that its confidence in the Liberal minority government has been shattered due to their incompetence and mismanagement, with TCCI CEO Michael Bailey saying that "it will be very difficult to trust this Government again."
Since Premier Rockliff took his government into minority, insolvencies have gone up by nearly 500 per cent and more than 8,700 jobs have been lost. That's a fact.
Business insolvencies mean that Tasmanians lose their jobs. We want to see Tasmania be the easiest place to do business so that more job opportunities can be created for Tasmanians.
July-December insolvencies 2022 to 2024
Source: ASIC Insolvency Statistics, Table 1.3
Josh Willie MP
Shadow Treasurer
