Significant infrastructure budget will create jobs and strengthen Victoria’s economy

 

Chief Executive Mark Stone says VECCI welcomes the strong infrastructure focus of the budget that will create jobs and support the Victorian economy to grow.

"The budget provides important funding for East West Link Stage 2 as well as funding to progress the Melbourne Rail Link project, both of which will create jobs and are key to enhancing the capacity of Melbourne’s transport system," Mr Stone said.

"Employers will welcome the reduction in the payroll tax rate which keeps Victoria’s taxes competitive against other states and reduces the cost of doing business.

"In delivering these measures, the budget remains fiscally responsible with projected budget operating surpluses averaging $3 billion per year over the forward estimates period. Net debt is predicted to fall, which will ensure Victoria retains its AAA rating as a stable and low risk destination for new investment.

"Also positive is additional funding to: attract major business events, support tourism marketing, and advance the ‘Food Into Asia’ action plan.

"It is a budget that will build on Victoria’s relatively strong financial position, progress important infrastructure projects and provide tax relief for business.

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The Victorian Employers' Chamber of Commerce and Industry (VECCI) is the peak body for employers in Victoria, informing and servicing more than 15,000 members, customers and clients around the state.

www.vecci.org.au

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