Thursday, 4 December 2025

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:38): There were so many choices today, but I have gone with the Victorian economy because I did not want people to miss the good news from yesterday. Yesterday’s Australian Bureau of Statistics national accounts figures show that the Victorian economy grew at 1.3 per cent in the September quarter – well above the national average of 0.4 per cent. The data shows that Victorian business investment was up strongly, at 3.6 per cent over the September quarter – the fastest quarterly growth in over two years. All of this is on top of the 120,000 new businesses, in net terms, that have opened their doors here in the last five years. More Victorians are also in a job than ever before. The share of working age Victorians has reached a record level of 64.7 per cent, and the participation rate is 67.8 per cent. This is especially true for women. Because of our investments in things such as Best Start, Best Life, free TAFE and women’s health, the participation rate for women is now at the highest level ever – 62.8 per cent. Despite the grumbles and despite the gripes of some of those out there, the private sector is betting on Victoria as the place to invest, grow and bring more Victorians into employment.

There are some economic headwinds, though. Reckless commentators, like a broken record, constantly talk down our economy, champion failure and ignore the facts – and all for cheap political points. But our economic strategy to back Victorian businesses and workers is working, and yesterday’s data is proof that our plan is moving Victoria forward. The plan, however, is at risk. It is at risk because an alternative government would rip $11.1 billion straight out of the budget. Callous, callous cuts are the only way an alternative government could achieve that outcome. It would affect Victorians, and it would smash the economy.