Tuesday, 13 May 2025

Economic policy

James NEWBURY (Brighton) (14:25): My question is to the Premier. Andrew Irvine, CEO of the National Australia Bank and a hand-picked member of the Premier’s own business council, recently said:

On every measure in our business, Victoria does a little bit worse. There’s a little bit less growth, there’s a little bit more delinquency, a little bit more impairment and confidence and business conditions in our surveys are weaker in Victoria than they are in other states …

Does the Premier endorse Mr Irvine’s assessment?

Members interjecting.

The SPEAKER: Order! Member for Gippsland East! Member for Mordialloc – nice try.

Jacinta ALLAN (Bendigo East – Premier) (14:25): I thank the member for Brighton for identifying the fact that we have a Premier’s Business Council. It is led by Ahmed Fahour, and it contains a number of people who are leaders from across the business community. They represent big business, small business and the commercial sector. They come from rural Victoria, metropolitan Melbourne and the suburbs, and they also represent the great diversity of our business community here in this state. I established this Premier’s business advisory council because I want to get advice directly from business. As a result of the work that they are doing and as a result of the work we are doing – and other activity across Victoria – we are seeing strong business investment here in this state.

Members interjecting.

Jacinta ALLAN: I know this is inconvenient for the member for Brighton.

James Newbury: On a point of order, Speaker, on relevance, the Premier is being evasive. This was a very, very specific question about the comments of Mr Irvine, and I would ask the Premier to stop being evasive and answer the question.

Mary-Anne Thomas: On the point of order raised by the member for Brighton, Speaker, there is no point of order. The Premier was being entirely relevant to the question. She was referencing her Premier’s Business Council, of which Mr Irvine is a member. I ask that you rule the point of order out of order and let the Premier get on with answering the question.

The SPEAKER: The question was quite long in terms of its –

Members interjecting.

The SPEAKER: Order! The question was long in terms of its preamble. I do remind the Premier of what the question was, but the Premier was being relevant.

Jacinta ALLAN: I will also not do what the member for Brighton is attempting to do and talk this state down. That is exactly the sort of behaviour you see from Liberals –

James Newbury: On a point of order, Speaker, it is entirely inappropriate for the Premier to be attacking members of her own business council, which is exactly what she is doing.

The SPEAKER: There is no point of order.

Jacinta ALLAN: When it comes to business investment, building more homes than any other state, creating more jobs and investing in our community, we have a strong economy here in Victoria. We are focused on taking advice from business leaders but also taking on board the views of the Victorian community – of working people and families who need a Labor government that is focused on them, investing in education, investing in health and making sure too we are investing in infrastructure projects, not cutting them like the cheerleader over here –

Bridget Vallence: On a point of order, Speaker, the Premier is debating the question. It is very narrow about whether the Premier endorses the comments of Mr Irvine.

Mary-Anne Thomas: On the point of order, Speaker, there is no point of order. You yourself said that it was a very wideranging question – some might say all over the place. Nonetheless the Premier is answering it, and I ask that you rule the point of order out of order.

The SPEAKER: I uphold the point of order. I ask the Premier to come back to the question.

Jacinta ALLAN: We will continue to support hardworking Victorians on construction projects but also in the private sector as well, which is why, with the work that is being led by the minister for economic growth, we are looking at how we can cut regulation in this state and invest in the things that matter to our business community – having the right environment here in Victoria and supporting our exporters to find new markets, particularly at a time when the global environment is being challenged in a way by the actions of the US administration. We know through our network, the largest network of overseas offices of any state in the nation, that we will work with our exporters, with our small and medium and large businesses, to find new markets. It is why the industry minister is working directly, whether it is with our food industry or our defence industry, to provide access to those new markets, all of which we detailed in our economic growth statement that we released last December. Our ministers are getting on and delivering and working with the business community, with the small business minister leading the work with small businesses as well, which are such a big and important part of our economy.

Bridget Vallence: Speaker, I will renew the point of order, which you upheld – thank you – that the Premier is failing to answer the very narrow question: does she endorse Mr Irvine’s comments or not?

The SPEAKER: Order! The Premier was referring to confidence and business conditions in Victoria. I do not uphold the point of order.

Jacinta ALLAN: I will continue, with my government colleagues, to work hard to back our businesses and to give them the workers with the skills they need to support a strong and growing economy.

James NEWBURY (Brighton) (14:31): Mr Irvine also said:

The government here in this state needs to look at the tax settings for businesses and for property. It’s really hard to grow your way out when you’re the highest tax jurisdiction. Victoria needs to become attractive for businesses to want to invest here and grow here …

Why does this government continue to impose the highest level of tax of any state?

Jacinta ALLAN (Bendigo East – Premier) (14:32): Let me share some data with the member for Brighton. The latest data –

Members interjecting.

Jacinta ALLAN: Just to be clear before the member for Evelyn jumps up, the member for Brighton did ask about business investment. He did refer to business investment. The latest data shows that Victorian business investment has increased by 3.7 per cent over the year to December 2024. What can –

Members interjecting.

Jacinta ALLAN: Thank you very much. The Leader of the National Party has asked me: how does that compare to other states? Let me tell the Leader of the National Party how that compares to other states. Tune in. The national growth rate –

Members interjecting.

The SPEAKER: The Premier will be heard in silence.

Jacinta ALLAN: I appreciate that, Speaker, because I was about to share the national growth rate of minus 0.1 per cent. The largest growth rate of all the state. I thank the member for Brighton for his question.