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Pallas Promoting Victoria's Strong Economy To The World

01 July 2015

The Victorian Treasurer Tim Pallas is in London, promoting Victoria's AAA credit rated economy.

The Treasurer has briefed credit rating agency Moody’s, and has met with leading economists and representatives from London’s financial markets. He has also met with a number of companies that are looking to expand their operations into Victoria.

The London leg is part one of an international roadshow with Treasury Corporation of Victoria that will see the Treasurer visit key stakeholders and institutional investors in London, Paris, Dubai and Shanghai.

The Treasurer will be promoting Victoria's economic credentials, strong balance sheet, as well as the Andrews Labor Government's commitment to make a record $22 billion investment in Victoria’s infrastructure.

While in London, the Treasurer has met with a number of key stakeholders and infrastructure partners, including ANZ’s London-based team, which supports trade and investment flows between clients in the UK, Europe and America with Australia, and Angel Trains, one of Britain's leading train leasing companies which has been an owner and lessor of rolling stock since 1994.

The Treasurer has also been updated on the situation in Greece and what potential impacts it may have in Australia and Victoria.

Quotes attributable to Treasurer, Tim Pallas

“I am promoting Victoria’s strong economic and budgetary position to the world.”

“Victoria is a great place to invest, where things are happening and a Government that is getting on with it.”

“International visits like this allow for an important exchange of ideas and information with key players in financial markets, as well as the building, forging and retaining of strong relationships with key stakeholders.”

Background

Moody's re-affirmed Victoria's AAA credit rating on 25 February 2015. Moody’s credit opinion on the State of Victoria reflects a long-term historical record of sound financial performance, ample financial flexibility and a diverse economic base that supports its operations.

Moody’s observes that Victoria’s triple A stable rating is well placed compared to most Australian states, reflecting better financial management and debt levels. Victoria and NSW are the only Australian states rated triple A stable by Moody’s.

Reviewed 19 August 2020

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