VECCI Chief Executive Mark Stone today applauded both major parties' adoption of many of VECCI's election agenda recommendations for business and state economic growth, but said business is disappointed that the opportunity to lift the payroll tax threshold remains outstanding.

Mr Stone’s comments came as over 250 of Victoria’s business leaders gathered to hear the chief executive report back on the economic commitments of both parties prior to the November 29 state election.

"We commend both major parties on their pre-election announcements that are consistent with the recommendations contained in VECCI's Taking Care of Business agenda,” said Mr Stone. 

“Taking Care of Business calls for action to support jobs, infrastructure, skills and international engagement and we have seen significant pledges in these areas that will help raise business competitiveness.”

Key outcomes:

Jobs

• Strong job creation plans, with the Coalition pledging to create 200,000 jobs over five years and Labor 100,000 over two years through a range of measures, including tax incentives. 

Infrastructure

• Support for major infrastructure projects including building a metro rail tunnel, privatising the Port of Melbourne, removing level crossings and widening the Tullamarine Freeway. 

The Coalition’s significant rolling stock investment, with a strong emphasis on local content and job creation, has been welcomed by industry and Victorian Labor now needs to demonstrate a similar commitment.

Two key points of difference between the major parties relate to their positions on constructing the East West Link and expanding the Melbourne Convention and Exhibition Centre. Both projects are strongly supported by VECCI, but only have commitment from the Coalition to date.

“These projects are vitally important to business and we would hope that Victorian Labor reconsiders its positions if elected to government,” said Mr Stone.
 
Skills

• Strong commitments to apprenticeships and training to support the creation of a well-trained, job-ready workforce. 

In keeping with VECCI’s recommendations, Victorian Labor committed to reforming the vocational training system by improving VET regulation and undertaking a review of VET funding.
 
International engagement

• Commitments to further boost Victoria’s strong international engagement record through an expanded inbound and outbound trade missions program and the establishment of new Victorian Government Business Offices in South America and Asia. 

However, Mr Stone said business is frustrated that neither major party has committed to raising the payroll tax threshold from $550,000 to $850,000, as this measure would reduce business costs and encourage job creation.

“While November 29 is fast-approaching, both parties still have the opportunity to influence business,” said Mr Stone.

“Business is asking why the parties are not taking the opportunity to create jobs by lifting what is currently Australia’s lowest payroll tax threshold.”

Mr Stone pledged to keep pushing policy makers to adopt outstanding commitments before the election and into the new term of government if required.

Mr Stone also urged voters to consider their choice this election.

“Don’t waste your vote. Use it wisely to make sure Victoria has a majority government with a mandate to deliver on its commitments,” said Mr Stone.

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

vecci.org.au

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LEADING experts will discuss the crucial energy policy issues facing Australia ahead of the government’s Energy White Paper.

The Melbourne Economic Forum, hosted Thursday November 20 by Victoria University, will explore the impact of Chinese energy policy developments in Australia, the likely future of Australian gas and electricity prices, regulatory reform in the energy sector and renewable energy policy.

Presentations will include an overview of key issues by the University of Melbourne’s Professor Ross Garnaut, discussion of the government’s Energy Green Paper by Department of Industry Associate Secretary John Ryan and research into the economic impacts of rising energy costs by Victoria University’s Professor Philip Adams.

There will also be a special presentation by Victoria University’s Professor Peter Sheehan and Jiang Kejun, Director of the Energy Research Institute’s National Development & Reform Commission on energy policy developments in China.

The forum panel members are:

• Anthea Harris, CEO of the Climate Change Authority
• Bruce Mountain, Director of CME consultancy and Victoria University PhD researcher
• Dr Leslie Martin, Assistant Professor at the University of Melbourne 

The Melbourne Economic Forum brings together economic policy thinkers from the University of Melbourne and Victoria University, and public and private institutions, to encourage sound government policy making.

Event details:

Thursday 20^th November 2014

11.00am – 1.45pm

Victoria University Convention Centre, Level 12, 300 Flinders Street, Melbourne.

Please register your attendance to:

Michael Quin, Marketing & Advancement, Victoria University

(03) 9919 9491; 0431 815 409; This email address is being protected from spambots. You need JavaScript enabled to view it.

WITH only 40 days until Christmas, toy retailers are preparing for a very merry Christmas trade with toys based on blockbuster films tipped to be the hottest selling gift items for children this year.

While hospitality, food and household goods categories will experience the highest levels of growth this Christmas, toys* are also set to enjoy a significant year on year increase of 2.8 percent, as revealed by peak retail industry body the Australian Retailers Association’s (ARA) official pre-Christmas retail sales figures released in conjunction with Roy Morgan Research.

According to eBay’s Trendwatcher data, retailers should prepare for a huge retro toy revival this year which has largely been influenced by major films such as Frozen, Transformers and the recently released Lego movie.

Topping the list of most sought-after toys on eBay this year are all things ‘Frozen’ related thanks to the Disney films beloved characters becoming household names since hitting Aussie cinemas last December. Frozen ice skating dolls and Frozen costumes are in hot demand, followed closely by cartoon toys and figurines based on Despicable Me, Lego, Transformers and Peppa Pig characters.

ARA Executive Director Russell Zimmerman said not only are consumers looking to online platforms such as eBay to purchase toys for their children this Christmas but bricks and mortar retailers are also beginning to see an upswing in sales.

“Starting from tomorrow until 24 December, shoppers are expected to spend a whopping $45 billion in retail stores, representing a 4.3 percent gain on sales during the same period in 2013 ($43 billion).

“eBay’s Trendwatcher data not only confirms the hottest children’s toys for 2014 but also illustrates how technology has come a long way and is now reflected in more toys than ever before. The popular ‘My Friend Cayla’ doll, for example, uses speech-to-text Google software synced via Bluetooth with a smartphone or tablet to answer questions regarding general knowledge or sports results. The toy even uses Google’s SafeSearch technology, no doubt providing a level of comfort to parents.

“With less than six weeks before Christmas, retailers are hopeful that shoppers will start their festive shopping a little earlier this year rather than leaving it until late December. However, we also know that the week before Christmas will remain the busiest time for pre-Christmas shopping, and therefore the most profitable time for retailers,” Mr Zimmerman said. 

*Toys fall under the category of ‘other’ in ARA/Roy Morgan figures
 
* Since 1903, the Australian Retailers Association (ARA) has been the peak industry body representing Australia’s $265 billion retail sector, which employs over 1.2 million people. The ARA ensures retail success by informing, protecting, advocating, educating and saving money for its 5,000 independent and national retail members throughout Australia.

Visit www.retail.org.au or call 1300 368 041

DETAILS:

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VICTORIA's peak tourism industry body welcomes bipartisan support for further development of the Grampians Peaks Trail for the increased benefit this vital tourism attraction could bring to the Victorian economy.

“This development will position Victoria as a key nature-based tourism destination, which means significant job creation and economic benefit,” said Victoria Tourism Industry Council (VTIC) Chief Executive Dianne Smith.

Ms Smith’s comments follow today’s announcements from both major parties of funding for further development of the trail should they be elected to the next term of government.

The project is expected to create 170 full time jobs in construction and operation, generate more than $6 million annually in tourism spending and attract an additional 86,000 visitor nights annually to the region.

The development of this trail has long been supported by VTIC and is a priority in its 2014 state election agenda to grow tourism in Victoria.

“We welcome this announcement as VTIC wants to see initiatives that support tourism growth and create jobs. Investments in the Phillip Island Nature Parks, Sovereign Hill and the Shipwreck Coast remain outstanding opportunities for policy makers that we will continue to urge commitment to,” said Ms Smith.

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The Victoria Tourism Industry Council (VTIC) is the peak body for Victoria’s tourism and events industry, providing one united industry voice.

Tourism and events are growth industries for Victoria and contribute $19.6 billion to the state economy each year and employ more than 200,000 people.

vtic.com.au

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