Andrews Government must deliver pro-business budget - Vic Chamber

THE Victorian Chamber of Commerce and Industry calls on the Andrews Government to take action in tomorrow’s 2016-17 Budget to boost business competitiveness, enhance liveability and create new jobs.

“The government has already said that increases in payroll tax revenue are expected to help generate surpluses totalling $9.2 billion over the next four years,” said Victorian Chamber chief executive Mark Stone.

“It is important that Victorian business benefits from this strong financial position.”

“The Victorian Chamber has consistently called on the government to increase the payroll tax threshold from $550,000 to $850,000 and the budget’s strong financial position shows there is no better time to do so,” said Mr Stone.

Mr Stone said an increase in the payroll tax threshold would drive employment and keep Victoria competitive against other states.

“Victorian business is looking to the Andrews Government to introduce practical measures that lower business costs and encourage jobs growth,” said Mr Stone.

“That’s why our pre-budget submission also calls for a reduction in the average WorkCover premium, cuts to red tape, new productivity enhancing infrastructure and a new international engagement strategy.”

Mr Stone said the Victorian Chamber had welcomed the government’s recent announcement of $1.46 billion to progress the $5.5 billion Western Distributor project.

“We also seek a commitment to commence the Metropolitan Ring Road from Greensborough to Ringwood in this term of government and funding for a range of vital regional road and rail projects to reduce congestion and grow Victoria’s liveability,” said Mr Stone.

“With historically low interest rates and the fast growing Asian region on our doorstep, the government should use the budget to strengthen international engagement opportunities for Victoria’s priority sectors.

“The release last week of the government’s new China strategy, Partnerships to Prosperity, is a good example of how businesses can be supported to become more internationally competitive and forge new global business opportunities.”

Mr Stone said at a time of consistently high youth unemployment, tomorrow’s budget must also introduce reforms to improve the quality of Victoria’s education and training system.

“This means strengthening employment pathways and boosting apprenticeships and traineeships in the trades and key sectors such as retail, hospitality and tourism,” said Mr Stone.

“Pro-business measures like these will give Victorian business the best chance to stay competitive. They must be a priority in tomorrow’s budget,” said Mr Stone.

The Victorian Chamber’s key recommendations for the 2016-17 Victorian Budget

  1. Ensure expenditure growth does not exceed revenue growth.
  2. Increase the payroll tax threshold from $550,000 to $850,000.
  3. Reduce the average WorkCover premium rate to 1.20 per cent of payroll.
  4. Accelerate the pace and breadth of regulation reform.
  5. Commit to commence the Metropolitan Ring Road in this term of government.
  6. Improve skills, education and training to build workforce capabilities and opportunities, now and into the future.
  7. Develop and fund a new international engagement strategy for Victoria.

For a copy of the Victorian Chamber’s pre-budget submission, visit the website. 

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