A Year of Action - Jobs

Wednesday, 30 July 2008

The Brumby Government has continued to manage the Victorian economy in the interests of working families and to make Victoria a great place to do business.

Victoria has also taken a lead role in the Business Regulation and Competition agenda of COAG to progress towards a seamless national economy, leading to an agreement at the July meeting for sweeping reforms that will remove overlapping and inconsistent regulations.

Reforms include a uniform OH&S legislation, a national trade licensing system that will remove inconsistencies across State borders and allow for a much more mobile workforce, a new national Business Names Registration system and a seamless national regulatory regime for financial services.

These initiatives will help Victoria compete in what will be an increasingly tough global economic climate.

“One of the best ways a Government can strengthen a community or a family is to build a strong economy, to drive new investment and growth, and create new jobs. We must continue to make the right and the hard decisions on economic reform.” – John Lenders, Treasurer

10. Jobs and the Economy

 

It is vital for Victoria’s future prosperity that we continue to invest in infrastructure, cut costs and promote skills to attract business to locate to the State. That’s why, over the past 12 months, the Brumby Government has:

 

  • Proceeded with the deepening of the Port of Melbourne’s shipping channels after extensive environmental studies – with work now almost 25% complete.
  • Attracted new investments, including
    • Toyota’s decision to build its new Hybrid Camry in Melbourne;
    • One of India’s largest IT companies, Satyam Computer Services’ decision to build a new software development and training campus at Geelong, creating 2,000 jobs;
    • ExxonMobil and BHP Billiton’s decision to proceed with development of the Turrum oil and gas field;
    • BankWest’s decision to establish new banking centres;
    • Fineos’ decision to build its Asia Pacific HQ and Centre of Excellence in Victoria, creating 65 jobs; and
    • Costco’s decision to open its first Australian store in Docklands.
  • Laid the groundwork for construction to start shortly on the new wholesale produce markets in Melbourne’s north leading to thousands of new jobs.
  • Officially opened the Australian Synchrotron – Australia’s most important piece of R&D infrastructure in two generations. The Synchrotron has five beamlines in operation and has had more than 700 users since August 2007.
  • Announced the establishment of Australia’s first Supercomputer at Melbourne University –  which will drive research and development across the biotechnology sector.
  • Committed to boost VET TAFE places over the next four years as part of a new Skills Strategy.
  • Delivered a $205 million strategy – Future Farming – to drive growth and innovation in the farming sector.
  • Announced details of the $230 million, world-class Biosciences Research Centre at Latrobe University’s Bundoora campus. The Centre will house 400 Department of Primary Industry scientists and make Melbourne’s northern suburbs a global centre for bioscience research.

 “Australia has one of the largest, most sophisticated and highly developed markets for financial services in the Asia Pacific region, with Victoria a key financial and business centre accounting for about one third of the country’s finance and insurance industry.”  – Theo Theophanous, Minister for Industry and Trade

11. Keeping Business Costs Low

“Today’s surplus is tomorrow’s infrastructure.” – John Lenders, Treasurer
 
The 2008 State Budget built on a solid track record of prudent economic management, cutting land tax rates, cutting the payroll tax rate in Victoria to 4.95% and delivering a 5% cut to average WorkCover premiums. Action was also taken to cut red tape and stimulate new industries such as biotechnology.

Following the Budget, Victoria’s AAA credit rating was reaffirmed by ratings agencies. The State’s record infrastructure program will be funded through strong Budget surpluses and low net debt. Net debt is forecast to be 2.9% of GSP in 2012, below the 3.0% inherited in 1999. The 2008 Budget provided $1.4 billion in tax relief and cost reductions to Victorian businesses and families, including:
  • $422 million in stamp duty cuts,
  • $490 million in Land Tax Cuts,
  • $170 million in Payroll Tax cuts, and
  • $352 million for in WorkCover cuts.

“I grew up in a small business family and I ran a small business myself in country Victoria, so I understand the challenges people face.” - Joe Helper, Minister for Small Business

12. Pushing Ahead with Major Projects, Events and the Arts

Victoria is the major events capital of the world. We have a rich calendar of events and are building the world-class facilities to grow this even further. Over the last 12 months, the Brumby Government has:
  • Signed up the Grand Prix for Melbourne until at least 2015, while holding firm on no night race.
  • Successfully staged both the 2007 Spring Racing Carnival and the 2008 Inter Dominion despite the outbreak of equine influenza.
  • Secured the exclusive Australian premiere of global musical smash Wicked.
  • Successfully staged several major exhibitions, including Game On at ACMI and The Melbourne Story at Museum Victoria.
  • Successfully staged the Melbourne Winter Masterpieces series, with the Guggenheim Collection: 1940s to Now and Art Deco: 1910-1939 at the NGV, and Pixar: 20 years of Animation at ACMI.
  • Secured major exhibitions for the 2009 Melbourne Winter Masterpieces series – Salvador Dali: Liquid Desire and A Day in Pompeii.
  • Committed $10 million to expand a successful program to support the development of vital arts and cultural infrastructure across regional and rural Victoria.


 “Many people who come to Melbourne for a major event also travel to regional Victoria to try our great food and wine, see the Great Ocean Road or bushwalk through the High Country.” – Tim Holding, Minister for Tourism

13. Keeping Regional Victoria Growing

Regional Victoria is growing, with more people, jobs and investment than ever before. We want regional Victoria to continue to prosper and grow in a sustainable way. That’s why, over the last 12 months, the Brumby Government has:
  • Committed $68 million to drive growth, expand industry, build on skills and respond to the future challenges in regional Victoria as part of the Moving Forward: Update Report.
  • Launched a $205 million farmers package – Future Farming – to boost farming services, drive growth and innovation in agriculture and help the sector respond to new challenges.
  • Announced a drought assistance package worth $113 million to help rural communities battling the worst drought on record.
  • Ended of the four-year moratorium on genetically modified canola.
  • Reached an historic agreement to better manage the Murray Darling Basin ensuring more water for rivers, water security for farmers and rural communities and over $1 billion in new investment to capture water savings.
  • Began reforming Ambulance services, including a new Air Ambulance helicopter at Warrnambool to serve south-west Victoria.
  • Opened the Deakin Medical School – Victoria’s first medical school specifically designed to produce doctors willing and able to work in regional and rural areas.
  • ntroduced a new $3,000 bonus for first home buyers purchasing a new home in regional Victoria.
  • Offered households in regional and rural Victoria a rebate of $2,500 to switch to solar hot water - a $33 million initiative that will reduce household electricity bills by around $245 a year
  • Introduced an extra 48 V/Line services per week, and increased to 22 the number of new V/Locity carriages under order for rural services.
  • Opened the Bendigo Box inner-city road project, as well as the next stage of the Calder Highway.
  • Committed $110 million towards duplication of the Princes Highway West from Waurn Ponds to Winchelsea, $40 million to build a new duplicated section of the Western Highway from
  • Melton to Bacchus Marsh, and funding for the next stage of the Geelong Ring Road.
  • Attracted new investments to regional Victoria, including one of India’s largest IT companies, Satyam Computer Services, which will build a new software development and training campus at Geelong, creating 2,000 jobs; and ExxonMobil and BHP Billiton’s decision to proceed with development of the Turrum oil and gas field, leading to 1,000 jobs.
  • Announced significant rail investments to standardise the north-east rail line and build the Wodonga Bypass, as well as investing in key freight lines identified in the Fischer Review.
  • Completed the Goldfields Superpipe, providing water security to Bendigo and Ballarat and committed $99 million to fast-track the completion of the Wimmera-Mallee pipeline.
  • Commenced construction on the early works program for stage 1 of the Food Bowl Modernisation Project to upgrade irrigation infrastructure in northern Victoria.
  • Announced the go-ahead of the southern hemisphere’s largest photovoltaic (PV) solar power station to be built in northern Victoria made possible with a $50 million State Government grant.
  • Established Clean Coal Victoria in the Latrobe Valley, an organisation dedicated to maximising the value and minimising the emissions of Victoria’s brown-coal resources.

 

 “Regional Victoria has enjoyed strong employment, investment and population growth over the past nine years. To meet this demand the Brumby Government is investing in skills and training and workforce participation.” – Jacinta Allan, Minister for Skills and Workforce Participation and Minister for Rural and Regional Development



14. Channel Deepening and Freight

The efficient movement of freight is critical to the future growth of the Victorian economy. Over the last 12 months, the Brumby Government has:
  • Commenced the deepening of the Port of Melbourne to ensure the future economic prosperity of the State. The project is expected to generate more than $2 billion in economic benefits and create thousands of additional jobs, estimated to peak at over 2,000 during works.
  • In May this year, signed an historic agreement with the Federal Government to standardise the north east rail line, the Portland to Maroona line and the construction of the Wodonga rail bypass.
  • Committed to competitive and sustainable rail freight including $56 million for line upgrades and maintenance and a $21.4 million Rail Freight Support Package.

“The Brumby Government is taking action to make our roads safer and tackle congestion to drive the economy, jobs and liveability in communities across the State.”– Tim Pallas, Minister for Roads and Ports

15. Gaming

The Government is committed to reducing the effects of problem gambling while also preserving the integrity of the industry. Over the last 12 months, the Brumby Government has:
  • Announced the current gaming duopoly to be replaced with a venue model from 2012.
  • Announced Australia’s toughest problem gaming measures, including the banning of ATM’s from gaming venues and reducing spin rates.

“While gambling is a legitimate form of recreation for many Victorians, for some, gambling can have a devastating impact. It is important that those people have access to appropriate counselling services.” – Tony Robinson, Minister for Gaming