Wednesday, 13 May 2026

 Ryan BATCHELOR (Southern Metropolitan) (17:37): I rise to make a statement on budget paper 2 from the 2026–27 budget, which was tabled yesterday, particularly to look at what the budget paper tells us about the state of the Victorian economy. We know that there are many on the other side who like to talk down Victoria and like to talk down the Victorian economy, but if you actually read what is written in the budget papers on the outlook for the Victorian economy, you can see some pretty remarkable facts. The Victorian economy continues to grow and our outlook is positive. It is not something that has happened by accident and it is not something that has happened by chance. It has happened because Labor have a plan that is investing in our economy and that is investing in jobs. As a result our economy continues to grow, our labour market is resilient, we have got a low unemployment rate, there is growth in household incomes, we are building more homes than any other state and business investment growth remains strong.

The budget papers do present some of the challenges that we are facing, particularly the challenges that many households are facing at the moment because of the impact that the war in the Middle East is having on global supply, particularly fuel but also fertiliser. We know that war has put up petrol prices. It has put pressure on households, and households are feeling that pressure. That is why the budget delivers support to households through things like a 20 per cent rebate on car registration and free public transport, which has been extended until the end of the month, and public transport is then half price for the rest of the year. We have got a midday power saver coming in in a couple of months. We have delivered and continue to provide free kinder. We have delivered and continue to provide free TAFE, and there is extra support for families to help with the costs of their kids’ schooling, whether that is through free dental check-ups, free glasses or free breakfasts. The list goes on. Labor are helping families where we can. We are providing help, whether it is a cheaper commute to work, helping you realise the dream of buying your first home, getting a job, getting skills to get a job or coming home from work that little bit earlier. We are doing what we can to support families.

The resilience of the Victorian labour market is something that I think many, particularly those opposite, continue to talk down. One of the things in the budget papers I want to just briefly mention is if you look at page 27 of budget paper 2 you will see a quite remarkable analysis of the growth in female labour force participation here in the state of Victoria. The budget paper says:

Victorian employment has grown strongly in recent years, rising by more than 8 per cent over the three years to 2025. Solid economic growth, together with an increase in labour supply aided by strong population growth and rising workforce participation, have supported this outcome.

Victoria’s total participation rate remained near record levels during 2025, driven by a large increase in female participation. Participation of women in the workforce has risen significantly compared with pre-COVID levels … This rise in female participation, coupled with strong demand for workers, has led to a significant rise in the share of Victorian women in employment to historically high levels.

The rise in female labour force participation in Victoria is no accident. It has been supported by a government that has been deliberately investing in support programs to make sure that women can get into the workforce and stay in the workforce – things like our Best Start, Best Life reforms, including free kinder; things like our free TAFE helping skill development, skill acquisition, which are critical elements on the path to jobs; and of course our support for work from home. All of these measures are deliberate decisions of this Labor government to support female labour force participation. What this budget shows us is that those policies are delivering that support, and female labour force participation is at record levels. This budget tells a lot of good stories. It tells a story of an economy continuing to grow, a resilient labour market and that the future is bright here in the state of Victoria.