A core purpose of the Economic Diversification and Investment Strategy will be to guide how government prioritises effort, coordinates economic development activity to support the Vision, Goals and Outcomes of the Strategy.

Public resources are finite and the trade-offs between competing demands are sharper than they have been. The government needs a clear framework for deciding when and how to intervene in the economy, and for aligning effort across portfolios and agencies.

The government shapes economic outcomes through multiple modes of action: facilitating private activity, investing in shared assets, regulating markets, funding targeted initiatives, partnering with industry and other governments, and advocating for Tasmania's interests in national and global settings.

Each of these economic levers draws on established assessment frameworks, technical tools and analytical methods, calibrated to their context. The Strategy seeks to bring greater alignment across these assessment methods, so that whichever lever government is considering, decisions are based on an integrated assessment framework and common principles, including consideration of competition impacts and the public interest.

The proposed principles below will serve as the foundations of that framework: