Wednesday, 27 August 2025

Economic policy

David DAVIS (Southern Metropolitan) (12:26): (1026) My question is to the Treasurer. Treasurer, the Australian Financial Review today said of Victoria in its editorial:

The higher taxation and bigger spending policies under Labor over the past decade have coincided with the slowest productivity growth of any state and the second-lowest per-capita economic growth –

of any state –

in the nation.

I therefore ask: does the Treasurer accept that after over a decade in government Labor is responsible for the most business-unfriendly environment of any Australian jurisdiction and that these failures are responsible for Victoria’s shocking economic performance?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:26): I thank Mr Davis for his question and the opportunity to give an editorial on the business environment and positive economic growth of Victoria.

Tom McIntosh interjected.

Jaclyn SYMES: I will take up the interjection of my colleague. The continual talking down by those opposite of the communities they represent and use of cherrypicked data which does not actually represent the reality is really confronting. It is actually quite concerning that you want to govern this state when you cannot even be positive about what is, frankly, very positive.

Mr Davis, you started by claiming there are some tax issues in relation to the Victorian position. What I would point to is budget paper 2, page 47, which talks about interstate comparison of state government revenue and demonstrates how on a per capita basis Victoria brings in less revenue in relation to other states – that is the first point. In relation to the business environment, we have added more than 113,000 businesses since June 2020. That is an increase of 18 per cent, and that is the most of any other state. I do not know how many times I have to continue to say this, because you continue to ignore and try and refute the statistics – more than any other state. Quarterly business investment figures are showing that for the full year to March 2025 investment grew by 1.6 per cent – significantly faster than the national growth, which was 1.2 per cent. In relation to small businesses, over 6000 small businesses do not pay any payroll tax after the payroll tax changes that we recently made.

We have the Economic Growth Statement, which I do not have a copy of on me, but I will drop one off to anyone who is interested. In relation to ensuring that we continue to not actually take for granted how well our state is going, we want to strengthen, we want to do better and we will continue to support businesses through the Economic Growth Statement. We will look for opportunities for tax reform. We have cut tax 66 times in the last decade, but we do not like to talk about that. In relation to business creation, as I said, a record number of businesses have been created here. Consumer sentiment in Victoria is strong – 99.8 per cent compared to 93.1 nationally.

I have got a number of stats that I can continue to point to. We are the best in the nation when it comes to economic growth, but I am not satisfied with that. I will continue to attract new business, work with existing businesses and take Victoria from strength to strength with those that want to work with me rather than those that want to work against the interests of Victorians.

David DAVIS (Southern Metropolitan) (12:29): I do think the Treasurer is delusional. Leaving that aside, I ask her a further question.

Members interjecting.

The PRESIDENT: Mr Davis, I think that is a bit unparliamentary, so maybe you should withdraw.

David DAVIS: I withdraw ‘delusional’.

A member: Without reservation.

David DAVIS: I withdraw.

The PRESIDENT: Thank you. We might reset the clock and then Mr Davis can ask his question without too much help. When the Treasurer has her 1 minute to respond, we will be all be quiet then too. It will be fantastic.

David DAVIS: My question is to the Treasurer again. I note, moving around the state, there are very few who would agree with her assessments, but I again reference the editorial in the Australian Financial Review and ask the Treasurer why Labor has shown so little interest in:

… building broad-based constituencies that support rational pro-growth, pro-investment and pro-productivity policies to make everyone better off.

Members interjecting.

The PRESIDENT: Do you want to ask it again?

David DAVIS: I will read it again. Referencing the editorial in the Australian Financial Review again, I ask the Treasurer why Labor has shown so little interest in, and I will quote from the editorial:

… building broad-based constituencies that support rational pro-growth, pro-investment and pro-productivity policies to make everyone better off.

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:31): Without reiterating the stats that I just went through, what I will talk to in response to that, Mr Davis, is that you will have seen from my latest diary disclosure, and my next diary disclosure, that it is full of people that are wanting to talk to me about investment in Victoria, about what they are doing to promote economic growth, how they are employing more people and how the state can partner with them. I would welcome a collective partnership in relation to these efforts, but if you do not want to take up that opportunity, there is no shortage of people who want to take up that opportunity with me.