Today's Bracks Government Economic Statement lays the foundation for the future growth of the Victorian economy, says VECCI.
Since the 2002 State Election campaign, VECCI has consistently campaigned for a series of measures designed to lower business costs and promote economic growth. These include:
- A commitment to responsibly fast track channel deepening in Port Phillip Bay, including an allocation of funds for capital works in the upcoming State Budget.
- A commitment to build a new Convention Centre for Melbourne to recapture Melbourne's pre-eminent position as a world-class conference and convention destination.
- A reduction in WorkCover premiums for all businesses.
- A reduction in business taxes, particularly payroll and land taxes.
"A substantial proportion of these demands have been met today," says VECCI Chief Executive Officer, Neil Coulson. Key measures include:
- A commitment to fast track the channel deepening process and improve intermodal infrastructure around the Port of Melbourne.
- The construction of a new 5,000 seat plenary hall.
- A 10 percent cut in average WorkCover premiums, worth $180 million per annum.
- Land tax relief worth $1 billion over five years.
- Reforms to streamline planning and development approval processes.
- New emergency powers legislation to deal with damaging industrial disputes, which will assist in improving Victoria's reputation as a place to invest.
"Overall, this Statement is a positive recognition that a healthy business sector has the potential to increase the welfare of the entire community - it is also a recognition that, in light of moderating state economic conditions, measures are needed to provide a boost to confidence, investment and jobs growth.
"The challenge going forward will be to ensure that: channel deepening and the Convention Centre are progressed in a timely fashion; the Budget operating positions remains in surplus; and the business taxation cuts are delivered over the medium term", says Mr Coulson.
2004-05 VECCI Submission Summary | 
