The Victorian State Budget announced today is an early election budget delivered 18 months out from the State's next ballot.
But, it provides little for business and offers few additional benefits to encourage and support Victorian businesses.
The Government's 'no new taxes' mantra fails to recognise the additional taxes already announced that businesses will pay.
The Victorian Head of the Australian Industry Group, Tim Piper, said Victoria remained the highest taxed state in the country, with that burden being imposed on many in the community.
"There is nothing to ease the burden on business in the most regulated state in the nation. This is a budget that will not shift the dial on attracting investment, growing the private sector or developing the workforce that will be vital to future prosperity," Mr Piper said.
"The Government intends to reduce the level of debt per capita, as it needed to do to keep the state debt agency rating where it currently sits. But the papers also show increasing debt payments from over $7.6 billion in 2025-2026 and to $10.6 billion by 2028-2029.
"An amount of $300 million for business support looks inadequate compared to the cost-of-living support offered, which will support electorates doing it tough.
"We also look to the Government to achieve its budgetary forecast, achieve a cash surplus, achieve an operating surplus, reduce the net debt and not impose more costs on business," Mr Piper said.
Further comment:
Tim Piper – 0411 430 301
