Wednesday, 28 May 2025

Ministers statements: economic policy

Danny PEARSON (Essendon – Minister for Economic Growth and Jobs, Minister for Finance) (14:26): I rise to update the house on how the Allan Labor government is growing the economy, creating jobs and backing Victorian families, because if your economic plan does not help with cost of living or does not create jobs or ease pressure on working people then, frankly, it is not much of a plan at all. That is exactly why we launched the $150 million Victorian Investment Fund: to back industries that will help shape our future and support local businesses to expand, invest and employ. We have also carved out $50 million just for regional Victoria because we want growth to reach every single town and indeed every single community.

While others sit on the sidelines talking down our economy, our government has Victoria’s back, working on innovative solutions to supercharge economic growth, like our Global Talent Attraction Fund, for example, because I want to make sure that as a state we are drawing the very best and brightest to come here to Victoria. Since 2016 our startup sector has grown 26-fold – now worth $132 billion, outpacing some of the world’s largest tech hubs. Frankly, we will not be stopping there. We are undertaking a review of every part of our innovation and commercialisation system and entities to make sure they deliver results that matter: good jobs, stronger local industries and better outcomes.

Victorians know the Allan Labor government has their back. We are focused on what matters and we are planning for the future, with a clear plan for jobs, growth and cost-of-living relief. Victorians know what the alternative is: a Liberal Party with no answers, no plans and no mention of families in their budget speeches, just a black hole full of secret cuts they will not come clean on. While we back families, they leave them behind. While we are planning for the future, we know the Liberal Party are just stuck in the past, continuing to wage war against each other.