Premier of Victoria

The Coalition Government is implementing a clear plan to improve the state’s fiscal position and return it to a more sustainable footing. We are committed to a strong program of reform with the goal of boosting Victoria’s productivity and competitiveness and reversing recent unsustainable fiscal trends.

The Government is focused on ensuring Victoria reaches its full economic potential and in the process create jobs and a better quality of life for all Victorians. We will implement responsible budgets, prudent borrowing and strong management of public infrastructure assets. To achieve this the Government has a financial management plan for the state that includes five immediate actions:

• an independent review of state finances to identify areas of waste and opportunities to increase the efficiency and effectiveness of government;
  
  
• a commitment to an annual minimum budget surplus of $100 million;
  
  
• ensuring sustainable levels of public debt consistent with maintaining a AAA credit rating;
  
  
• implementing savings across Government, including reducing the number of ministerial advisers and media staff; and
  
  
• adopting more rigorous central oversight processes to ensure major projects are delivered on time and on budget.

The Coalition Government is getting business moving again, and driving investment and job creation to restore the Victorian economy to a position of strength amongst the states and territories and within the global economy.

Achievements and policies implemented

Treasury

• Achieved $100 million budget surplus despite challenges associated with $4.1 billion loss of GST revenue and $2 billion in existing project cost pressures
  
  
• Stabilised debt levels and maintained parameters consistent with AAA credit rating
  
  
• Recorded a $517 million surplus as part of the 2010–11 Victorian Budget outcome
  
  
• Implemented $2.2 billion of savings across government, including a focus on advertising, consultants, ministerial staff, accommodation and other back office functions
  
  
• Cut stamp duty for first home buyers, pensioners and young farmers
  
  
• Pushed successfully for a review of the distribution of GST revenue following the unfair and unprecedented $2.5 billion cut in GST revenue to Victoria
  
  
• Implemented new High Value High Risk unit/capability within Treasury to strengthen discipline and oversight of major capital projects
  
  
• Initiated an Independent Review of State Finances to help put Victoria's finances on a sustainable path over the long term

Finance

• Making savings of $474.5 million in 2011–12 by imposing a 1 per cent efficiency dividend on all government expenses
  
  
• Cut the number of ministerial staff by 25 per cent to reduce Labor's bloated ministerial offices
  
  
• Reduced spending on media and marketing positions within the public service
  
  
• Made substantial cuts to spending on consultants
  
  
• Axed taxpayer funded opinion polling which was used by the previous Labor Government for party-political spin
  
  
• Reduced Government spending on advertising significantly
  
  
• Improved Government accountability by requiring that any discontinued budget performance measures are reviewed and approved by the Public Accounts and Estimates Committee

Assistant Treasurer, technology and aviation

• Established the Regional Aviation Fund
  
  
• Released feasibility study into a Geelong Regional Airport
  
  
• Established Victorian Biotechnology Advisory Council
  
  
• Launched new Victorian Technology Plans (ICT, Biotechnology and Small Technology)
  
  
• Commenced rewrite of WorkCover legislation
  
  
• Released new ICT Industry Skills package

Major projects

• Put the Melbourne Market on a sustainable financial footing by making a significant equity injection and improving affordability of rental rates at the market
  
  
• Continued to renovate Melbourne Tennis Centre, including appointing architects to roof the Margaret Court Arena and starting works on Eastern Plaza
  
  
• Completed the Albert Park Lakeside Athletics Stadium
  
  
• Provided emergency funding for Puffing Billy to address Labor's neglect

Ports

• Scrapped Labor's onerous and unworkable truck congestion tax
  
  
• Passed legislation to establish the Port of Hastings Development Authority
  
  
• Successfully lobbying the Commonwealth to allow Victoria to dredge Lakes Entrance Channel to help the commercial fishing sector
  
  
• Provided $2 million for upgrades to local ports in Western Port and Port Phillip, including dredging Patterson River at Carrum and dredging at Queenscliff
  
  
• Established the Grain Logistics Taskforce to ensure Victoria's grain harvest reaches its destination quickly and effectively
  
  
• Upgraded Apollo Bay breakwater to ensure that vessels have a safe harbour

Manufacturing, exports, trade, employment and industrial relations

• Restructured the Department of Business and Innovation, assigning many more business development managers to suburban and regional offices to deliver better services and enhance interactions with business across Victoria
  
  
• Supported next generation manufacturing including winning a $126 million investment by Nexteer Australia to build a state-of-the-art automotive manufacturing facility for Melbourne, bringing 250 new jobs and$150 million in exports annually
  
  
• Strengthened our industrial relations reputation by intervening at Fair Work Australia in support of more flexible working hours in the retail sector – the only government to do so – to allow more flexible minimum hours for after-school work by students, with particular benefits for students living in regional Victoria
  
  
• Drafted new industrial relations principles to apply to tenders for state-funded construction projects, with the aim of achieving better value for money for taxpayers in the delivery of major infrastructure
  
  
• Fostered a more assertive export culture and launched a series of roundtables to discuss directly with key exporters the challenges in expanding their business in global markets
  
  
• Managed transition by working closely with industry and communities to provide support for displaced workers, with government departments now active across the manufacturing hubs of Melbourne and regional Victoria in working with affected businesses to offer subsidised retraining courses and helping to identify alternative employment opportunities
  
  

Innovation, services, small business, tourism and major events

• Launched the new 'Play Melbourne' Jigsaw Tourism marketing campaign to attract even more tourists to Melbourne
  
  
• Removed the ban on Easter Sunday trading so any business that wishes to trade on Easter Sunday will now be legally able to do so
  
  
• Provided flood assistance to help tourism and businesses, including $1.5 million for grants of up to $5,000 for businesses affected by floods, $25,000 Clean Up and Restoration Grants for directly affected businesses, free small business advisory services to mentor businesses throughout the recovery process and a $2.5 million tourism marketing campaign encouraging people to visit regional Victoria
  
  
• Led the largest-ever industry trade mission from Victoria to India, showcasing Victoria's innovative and dynamic organisations across the automotive, aviation & aerospace, cleantech, food and beverage and sustainable urban design sectors. Key outcomes included the anticipated generation of at least $63 million of additional exports and the creation of new jobs over the next 24 months
  
  
• Secured new business events/conferences for Melbourne, including eight conferences that will boost the Victorian economy by nearly $120 million
  
  
• Secured for Melbourne the newly-created Ironman Asia Pacific Championship Melbourne for three years starting in March 2012 which is expected to generate an estimated economic benefit of approximately $10 million each year and strong tourism and broadcast benefits
  
  
• Secured direct flights including first Royal Brunei direct flight to Melbourne and China Southern Airlines increasing flights to twice-daily
  
  
• Drafted new industrial relations principles to apply to tenders for state-funded construction projects, with the aim of achieving better value for money for taxpayers in the delivery of major infrastructure

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