Mary Wooldridge MP

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Premier cuts industry and innovation

Monday, May 27, 2019

This budget has seen a massive cut of $130 million next year to the Government’s program to create jobs, attract investment and build an innovative Victoria.

Three funds, which have committed millions of dollars to supporting business to expand, increase efficiencies, develop Victoria’s future industries and support start-ups and innovation, have now been reduced to a single fund worth just $120m next year, down from $250m in 2018/19.

With economic growth slowing and unemployment rising, Victoria’s economy is under pressure and now is not the time to be cutting funding from programs that help keep our businesses competitive in the global economy.

Currently Victoria’s business confidence is reported as at its worst since November 2012. Victorian industry needs support but Daniel Andrews has instead chosen to cut the Industry, Innovation and Small Business budget by 21% and the Jobs budget by 19%.

The future for Victoria looks grim if this is Premier's vision is for a state that relies solely on infrastructure investment as the basis for a strong economy.


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