As part of the First 100 Days plan, the Tasmanian Government committed to updating the Tasmanian Development Act 1983 to allow co-investment in strategic projects that benefit Tasmania by increasing the current $10 million cap to $35 million.
Premier Jeremy Rockliff said we have received advice that making an Order to increase the co-investment limit is the most appropriate way to implement this commitment.
"We will seek to progress this commitment via an Order within the First 100 Days," Premier Rockliff said.
"The Government will also take the opportunity to further improve the operational efficiency of the Act by increasing the limits relating to loans, unsecured loans and discharge of liabilities.
"These changes will provide greater flexibility to progress a number of economy-boosting proposals in a timely manner and support commercial agility for businesses to make informed investment decisions.
"Our Government knows the importance of a strong and certain investment environment and our 2030 Strong Plan for Tasmania's Future will provide the private sector with the confidence required to invest in our State," Premier Rockliff said.
