Tuesday, 9 September 2025

ANZ

David DAVIS (Southern Metropolitan) (12:14): (1039) My question is to the Treasurer. Treasurer, I refer to the ANZ bank’s decision to slash 3500 jobs by next September, which will strike disproportionately the Victorian staff at their head office at 833 Collins Street, Melbourne. Outgoing CEO Shayne Elliott recently said that Victoria is one of the toughest places in Australia to do business, singling out the Allan Labor government’s massive new payroll taxes. I therefore ask, Treasurer: do you accept the Allan Labor government’s tax regime has been a significant factor in these ANZ staff losing their jobs?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:14): Thanks, Mr Davis, for your question. At the outset, this is a matter for ANZ, but of course for those staff that are impacted we will certainly ensure that we have available commitment and support with ANZ where appropriate. You referred to head office. I can confirm that my advice is their CEO and head office will remain in Melbourne. They will continue to be based here and to have well over 15,000 employees in Victoria.

Mr Davis, you made a link from this business decision to conditions in Victoria. Again I can remind you of the record numbers of economic growth and business creation in the state of Victoria. I have got a new figure for the house this week: we have added more than 123,000 businesses since June 2020. That is an increase of almost 20 per cent. I remind the house this is the most of any state or territory. Quarterly business investment figures have also been looking up. Victorian investment grew by 1.7 per cent, significantly faster than the 0.7 per cent nationally.

Mr Davis, there are positive signs backed up by the stats, and I can continue to remind you of these stats. Since the pandemic Victorian business investment has risen by 41 per cent compared to 32 per cent for the rest of Australia up to June 2025. I will not talk down this state as those opposite do. There is always room for improvement, but we are heading every other jurisdiction in so many indicators. Westpac consumer sentiment was up 2 per cent for the month compared to a fall in the Australian average – consumer sentiment in Victoria is now more than the Australian average – and business conditions are also up 5 per cent because of the latest NAB business conditions survey. So, Mr Davis, when you stand there and talk about your concern for Victoria – your continued talking down of business in Victoria – I would remind you to look at the stats and use facts in your questions.

David DAVIS (Southern Metropolitan) (12:17): We heard everything about everything except the ANZ. I say the government clearly has been at least briefed in part –

Members interjecting.

The PRESIDENT: I call the house to order, please. I remind all sides of the chamber it is not a one-way street.

David DAVIS: The government has clearly been briefed, at least in part, by the ANZ on how many staff they are slashing in Victoria, and if so, will the Treasurer relay to the house how many of their Victorian-based staff will lose their jobs?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:18): Mr Davis, this is a matter for ANZ, but I can confirm – and I think it is worthy of noting – that ANZ are on the public record giving a commitment to work with impacted employees as the changes come into effect, and I commend them for that.

David DAVIS (Southern Metropolitan) (12:18): I move:

That the Treasurer’s answer be taken into account on the next day of meeting.

Motion agreed to.