The Allan Labor Government is one step closer to transforming the East Werribee Precinct into a vibrant urban environment that provides high quality housing, economic activity and strong employment growth.
Minister for Precincts Colin Brooks today released the East Werribee Opportunity Statement, outlining the Labor Government’s vision for how the East Werribee Precinct will grow and develop over time.
Development will focus on the area’s existing strengths in agriculture, manufacturing, energy and tourism, and support the growth of these key economic sectors with access to a large, diverse and increasingly skilled workforce.
Economic growth in East Werribee will also build on significant investments in education and health, including the expansion of the emergency department at Werribee Mercy Hospital.
Due to its size and strategic location, East Werribee is uniquely positioned to unlock the productive potential of Government land in Melbourne’s west.
The removal of a further three level crossings in Wyndham and the completion of missing links along the Federation and Kororoit Creek trails will deliver improved cycling connections for the region.
By 2025, the opening of the Metro Tunnel will see increased capacity on the Werribee and Williamstown lines during peak periods, and the West Gate Tunnel will slash travel times between East Werribee and the Port of Melbourne.
East Werribee is part of the Werribee National Employment and Innovation Centre (NEIC) – a focus for strategic infrastructure investment to help expand employment opportunities.
Find out more about the Opportunity Statement at www.dtp.vic.gov.au/EastWerribee.
Quote attributable to Minister for Precincts Colin Brooks
“We’re bringing the East Werribee Precinct to life, transforming it into a centre for employment and investment, surrounded by high-quality and sustainable housing and improved transport connections.”
Quote attributable to Member for Werribee Tim Pallas
“The East Werribee Opportunity Statement will transform the precinct and help unlock new business, employment and residential opportunities in one of Victoria’s fastest growing areas.”
Quote attributable to Member for Point Cook Mat Hilakari
"East Werribee's ongoing development is bringing more jobs closer to home, a great outcome for our growing community."
The Allan Labor Government is one step closer to transforming the East Werribee Precinct into a vibrant urban environment that provides high quality housing, economic activity and strong employment growth.
Minister for Precincts Colin Brooks today released the East Werribee Opportunity Statement, outlining the Labor Government’s vision for how the East Werribee Precinct will grow and develop over time.
Development will focus on the area’s existing strengths in agriculture, manufacturing, energy and tourism, and support the growth of these key economic sectors with access to a large, diverse and increasingly skilled workforce.
Economic growth in East Werribee will also build on significant investments in education and health, including the expansion of the emergency department at Werribee Mercy Hospital.
Due to its size and strategic location, East Werribee is uniquely positioned to unlock the productive potential of Government land in Melbourne’s west.
The removal of a further three level crossings in Wyndham and the completion of missing links along the Federation and Kororoit Creek trails will deliver improved cycling connections for the region.
By 2025, the opening of the Metro Tunnel will see increased capacity on the Werribee and Williamstown lines during peak periods, and the West Gate Tunnel will slash travel times between East Werribee and the Port of Melbourne.
East Werribee is part of the Werribee National Employment and Innovation Centre (NEIC) – a focus for strategic infrastructure investment to help expand employment opportunities.
Find out more about the Opportunity Statement at www.dtp.vic.gov.au/EastWerribee.
Quote attributable to Minister for Precincts Colin Brooks
“We’re bringing the East Werribee Precinct to life, transforming it into a centre for employment and investment, surrounded by high-quality and sustainable housing and improved transport connections.”
Quote attributable to Member for Werribee Tim Pallas
“The East Werribee Opportunity Statement will transform the precinct and help unlock new business, employment and residential opportunities in one of Victoria’s fastest growing areas.”
Quote attributable to Member for Point Cook Mat Hilakari
"East Werribee's ongoing development is bringing more jobs closer to home, a great outcome for our growing community."
The Victorian Junior Landcare and Biodiversity Grants are now open, with $450,000 available for projects that involve young people actively caring for Victoria’s biodiversity and natural environment.
Schools, kindergartens, childcare centres and youth groups can all apply for grants of up to $5000 for projects that encourage young Victorians to learn more about the state’s plants, wildlife and nature through hands-on activities or classroom learning.
More than 47,000 young people have been a part of the program involved in 1100 nature-based excursions and conducting 270 biological surveys through biodiversity focused learning activities.
Junior Landcare Biodiversity Grant recipients have also planted an incredible 99,000 indigenous plants across numerous landscapes to help maintain ecosystem health.
Past projects funded by the Victorian Junior Landcare and Biodiversity Grants include the creation of a walking trail aimed at promoting opportunities for students to care for indigenous plants and animals on Phillip Island, transforming land with indigenous flora in Bundoora and biodiversity-focused excursions to learn about local wildlife in Yarra Glen.
All initiatives funded as part of the grants program help deliver on the Allan Labor Government’s long-term plan to protect Victoria’s native plants and animals through the landmark Biodiversity 2037 plan, backed by record investment of $582 million since 2014 to safeguard our natural environment.
Applications for the Victorian Junior Landcare and Biodiversity Grants will close at 3pm on Friday 14 June 2024.
For more information and to apply, visit here.
Quotes attributable to Member for Werribee Tim Pallas
“The Victorian Junior Landcare and Biodiversity Grants play such an important role helping young Victorians connect with nature.”
“Since 2018, the grants have provided more than $2.5 million to projects across the state, with 584 projects being completed and making a difference.”
“These grants benefit our beautiful landscapes across the state and help young Victorians get involved in nature-based programs at a young age can instil a passion for the environment that can last a lifetime.”
The Victorian Junior Landcare and Biodiversity Grants are now open, with $450,000 available for projects that involve young people actively caring for Victoria’s biodiversity and natural environment.
Schools, kindergartens, childcare centres and youth groups can all apply for grants of up to $5000 for projects that encourage young Victorians to learn more about the state’s plants, wildlife and nature through hands-on activities or classroom learning.
More than 47,000 young people have been a part of the program involved in 1100 nature-based excursions and conducting 270 biological surveys through biodiversity focused learning activities.
Junior Landcare Biodiversity Grant recipients have also planted an incredible 99,000 indigenous plants across numerous landscapes to help maintain ecosystem health.
Past projects funded by the Victorian Junior Landcare and Biodiversity Grants include the creation of a walking trail aimed at promoting opportunities for students to care for indigenous plants and animals on Phillip Island, transforming land with indigenous flora in Bundoora and biodiversity-focused excursions to learn about local wildlife in Yarra Glen.
All initiatives funded as part of the grants program help deliver on the Allan Labor Government’s long-term plan to protect Victoria’s native plants and animals through the landmark Biodiversity 2037 plan, backed by record investment of $582 million since 2014 to safeguard our natural environment.
Applications for the Victorian Junior Landcare and Biodiversity Grants will close at 3pm on Friday 14 June 2024.
For more information and to apply, visit here.
Quotes attributable to Member for Werribee Tim Pallas
“The Victorian Junior Landcare and Biodiversity Grants play such an important role helping young Victorians connect with nature.”
“Since 2018, the grants have provided more than $2.5 million to projects across the state, with 584 projects being completed and making a difference.”
“These grants benefit our beautiful landscapes across the state and help young Victorians get involved in nature-based programs at a young age can instil a passion for the environment that can last a lifetime.”
Treasurer Tim Pallas has chosen Free 3D Hands as the Victorian Budget 2024/25 charity – confirming the selection with a donation made today.
The charity designs and provides high-quality, low-cost assistive devices for people with upper limb differences, completely free of charge to anyone, anywhere in the world.
Founded by Phillip Island-based engineer Mat Bowtell in 2019, Free 3D Hands recognises that there are more than one billion people around the world who require assistive devices – and for or 90 per cent of those people, access to assistive technology remains limited.
Free 3D Hands shares all of their designs under open-source licences to empower others around the world to make and repair them, and to encourage further innovation in this field.
All donations to Free 3D Hands go directly towards the research, design and development of assistive devices and getting them to those who need them.
The Treasurer has nominated a charity at each of his 10 Budgets, making a personal contribution and supporting fundraising within the community.
Victorians interested in contributing to the important work of Free 3D Hands can do so at free3dhands.org.
Quotes attributable to Treasurer Tim Pallas
“I’m proud to nominate Free 3D Hands as the Victorian Budget 2024/25 charity, to help it continue the amazing work it does in changing lives around the world.”
“For those people in a position to make a donation, I urge them to give generously.”
Quote attributable to Free 3D Hands founder Mat Bowtell
“We are very grateful to the Treasurer for choosing Free 3D Hands as his Budget charity. All donations to Free 3D Hands go directly towards the research, design and development of open-source assistive devices and getting them to those who need them. We believe in a world where everyone has equal access to assistive technology.”
Quote attributable to Member for Bass Jordan Crungnale
“Mat Bowtell and his team are all heart, all community – and these 3D printed devices are bringing joy and confidence to children, young people and adults here in Victoria and right across the world.”
Treasurer Tim Pallas has chosen Free 3D Hands as the Victorian Budget 2024/25 charity – confirming the selection with a donation made today.
The charity designs and provides high-quality, low-cost assistive devices for people with upper limb differences, completely free of charge to anyone, anywhere in the world.
Founded by Phillip Island-based engineer Mat Bowtell in 2019, Free 3D Hands recognises that there are more than one billion people around the world who require assistive devices – and for or 90 per cent of those people, access to assistive technology remains limited.
Free 3D Hands shares all of their designs under open-source licences to empower others around the world to make and repair them, and to encourage further innovation in this field.
All donations to Free 3D Hands go directly towards the research, design and development of assistive devices and getting them to those who need them.
The Treasurer has nominated a charity at each of his 10 Budgets, making a personal contribution and supporting fundraising within the community.
Victorians interested in contributing to the important work of Free 3D Hands can do so at free3dhands.org.
Quotes attributable to Treasurer Tim Pallas
“I’m proud to nominate Free 3D Hands as the Victorian Budget 2024/25 charity, to help it continue the amazing work it does in changing lives around the world.”
“For those people in a position to make a donation, I urge them to give generously.”
Quote attributable to Free 3D Hands founder Mat Bowtell
“We are very grateful to the Treasurer for choosing Free 3D Hands as his Budget charity. All donations to Free 3D Hands go directly towards the research, design and development of open-source assistive devices and getting them to those who need them. We believe in a world where everyone has equal access to assistive technology.”
Quote attributable to Member for Bass Jordan Crungnale
“Mat Bowtell and his team are all heart, all community – and these 3D printed devices are bringing joy and confidence to children, young people and adults here in Victoria and right across the world.”
Inflation means families are doing it tough, but with a record number of people in jobs and our economy forecast to keep growing, Victorians have good reason to feel positive about the future.
Victoria is the engine room of the Australian economy.
Since September 2020, more than 560,000 new jobs have been created in Victoria – more in absolute and percentage terms than any other state. There are now a record 3.7 million Victorians in jobs and unemployment remains near its lowest rate in 50 years.
ABS data shows our economy grew by 9.1 per cent over the past two years – more than New South Wales, Queensland, Western Australia and Tasmania – and our economy is also forecast to continue outpacing every state over the next five years.
Business investment in Victoria is also strong. Investment grew by more than 13 per cent last calendar year, the largest increase of all the states and almost 6 percentage points higher than growth in the rest of Australia.
The Allan Labor Government has created the conditions for this growth, despite global cost-of-living pressures and high interest rates, by backing business investment, public investment and a return to strong population growth.
The Victorian Budget 2024/25 is firmly focused on the things that matter to families – helping with the cost of living and investing in the education, healthcare, housing and transport that Victorians rely on.
While we continue to deliver the infrastructure and world-class services that families need, this year’s Budget makes sensible, disciplined decisions to deal with the challenges ahead: high inflation and workforce constraints.
High inflation is being experienced here in Victoria, across Australia and around the world. The rising price of materials, labour and transportation – driven by the pandemic, global conflict and broader economic conditions – have all pushed up the costs of construction by around 22 per cent since 2021.
We also face workforce constraints. Infrastructure Australia estimates that demand for workers exceeds the current national public infrastructure workforce by 129 per cent, and it’s a similar story in our caring and social sectors too – with shortages in the early childhood, aged care and mental health workforces.
Right now, we have state-transforming transport projects underway, including Metro Tunnel, West Gate Tunnel and North East Link – but at the same time, we have a huge amount of funding tied up with the Melbourne Airport Rail project.
We need to be realistic about the project and its timeline – the Commonwealth Government has only recently appointed an independent mediator, and the Airport has not indicated it is prepared to drop its demands for compensation and an underground station.
We’ve made the sensible decision to acknowledge that the project is now at least four years delayed. This will allow us to get on with delivering other projects.
We’ve also reviewed and addressed COVID-era programs that have served their purpose and are no longer needed. We’ll reduce the Government’s advertising spend and will reduce office space across government in acknowledgement that a couple of days working from home is now the norm.
With unemployment at near-record lows, we need to be pragmatic about the challenges this creates – just as we carefully balance and support our infrastructure workforce, we need to do the same with our early education and care sector.
We’ll take a more gradual approach with our Pre-Prep reforms and the rollout of our Mental Health and Wellbeing Locals, so we can train and recruit the workers these programs need to succeed.
Breakthrough Victoria has been successful, deploying more than $330 million, including investments in 24 companies.
With Victoria’s economy recovering strongly, this Budget will rephase its funding, with a reduced $90 million a year over the forward estimates – and its investment profile extended from 10 to 15 years, allowing more time to review and be selective about quality investments.
The result of this sensible and disciplined approach is that we’re continuing to strengthen our financial position.
In 2020, during the pandemic, we laid out a four-step strategy for strong and sensible financial management.
The first and most important step was to let the state’s balance sheet absorb the blow of the pandemic – protecting jobs, businesses and lives.
The second step – returning to an operating cash surplus – is a key measure of fiscal sustainability. We achieved an operating cash surplus of $4.2 billion in 2022-23, and the Budget forecasts an operating cash surplus across the forward estimates, reaching $6.1 billion in 2027-28.
We’re on track for Step Three: this Budget forecasts an operating surplus of $1.5 billion in 2025-26 – higher than we promised before the 2022 election, which then increases to $1.6 billion in 2026-27 and $1.9 billion in 2027-28.
With this Budget we’ve also been able to deliver on Step Four – stabilising debt levels – with these growing operating cash surpluses funding a higher proportion of capital expenditure, reducing the reliance on borrowings.
Because of our disciplined approach, we can now pursue an updated fiscal strategy and add Step Five: reducing net debt as a proportion of the state’s economy. This Budget will see net debt to GSP fall for the first time since 2017.
Net debt is expected to be $156.2 billion in June 2025 – or 24.4 per cent of GSP, before reaching 25.2 per cent in 2026-27 and then declining to 25.1 per cent in 2027-28.
In last year’s Budget, we outlined landmark tax reform to transition away from stamp duty for commercial and industrial properties[FACT_009].
We have worked closely with industry and the property sector to finalise this reform, and we’ll remove the upfront cost of stamp duty from 1 July 2024[FACT_011].
This is a $266 million tax cut that will benefit the property industry and Victorian businesses, and make it easier for them to set up, invest in new land and buildings, or expand to employ more Victorians[FACT_016].
The reform will add 12,600 jobs and benefit Victoria’s economy by up to $50 billion over the next 40 years [FACT_016].
While we make savings to reduce back-office duplication and inefficiencies, we’re investing in the things families need most – including easing the cost-of-living pressure being felt here and around the world.
Our one-off $400 School Saving Bonus will help to cover the cost of uniforms, camps, excursions and other extracurricular activities through the school year, giving families one less thing to worry about.
We’re building 16 new public schools in our fastest-growing areas, investing to maintain schools in every corner of the state – and spending $139 million [OV_063]to get more teachers into schools and make sure they are equipped to help students be their best.
The biggest ever multi-year investment in our health system will deliver $11 billion to make sure every Victorian has access to world-class healthcare.
This Budget also invests $1.7 billion for a new emergency department for the Northern Hospital, with a dedicated paediatrics zone, a mental health, alcohol and other drugs hub and extra inpatient beds.
We’ll also deliver a new emergency department for the Austin Hospital and expand the Monash Medical Centre, with bigger maternity care facilities, new operating suites and a new intensive care unit.
We’ll give more Victorians a safe and secure roof over their head, with $107 million to advance our ambitious housing agenda, delivering social and affordable homes for Victorians who need them most – and to improve our public housing and strengthen Victoria's building industry.
We’re investing an additional $700 million to extend the Victorian Homebuyer Fund, while increasing the regional price cap and the threshold for single parents, to help more people realise their dream of owning a home.
With the Commonwealth Government establishing Help to Buy, a nationwide shared equity scheme, the Victorian Government will make a final investment in the Victorian Homebuyer Fund and will transition to the national scheme once it’s established.
Since 2014, we have invested $120 billion to plan, build, operate and upgrade Victoria’s transport network – and now it’s time to bring those projects to life, with $996 million to switch on Big Build transport projects like the Metro Tunnel, the most transformational public transport project since the City Loop.
To be able to continue to deliver these kinds of state-shaping projects, we need to build our future workforce starting today. This Budget builds on our nation-leading training investments with an extra $555 million to extend access to free TAFE, support apprentices and trainees, and train more mental health professionals.
We’ll continue to grow our economy by supporting startups, continuing the vital work of LaunchVic for a further four years.
Since 2017, LaunchVic has supported more than 11,400 entrepreneurs to upskill, and more than 1,000 startups have graduated from its funded pre-accelerator and accelerator programs – and the program has activated more than $830 million of private capital.
This Budget also builds on Victoria’s partnership with BioNTech to establish its Asia‑Pacific mRNA clinical manufacturing facility, Innovation Centre and AI Early Warning System in Melbourne – boosting our expertise and creating more jobs in one of the world’s leading medical research cities.
This is a Budget that delivers cost-of-living help and invests in the projects and services that Victorians rely on – because this is a Budget that’s helping families.
Quotes attributable to Treasurer Tim Pallas
“With a record number of people in jobs and our economy forecast to keep growing, Victorians have good reason to feel positive about the future.”
“This Budget is about helping Victorian families with the most important things – continuing our investment in the education, health, housing and transport services Victorians rely on, while providing cost-of-living relief.”
“We’re facing up to the economic challenges faced around the world with sensible, disciplined decisions – we won’t shy away from reality.”
Inflation means families are doing it tough, but with a record number of people in jobs and our economy forecast to keep growing, Victorians have good reason to feel positive about the future.
Victoria is the engine room of the Australian economy.
Since September 2020, more than 560,000 new jobs have been created in Victoria – more in absolute and percentage terms than any other state. There are now a record 3.7 million Victorians in jobs and unemployment remains near its lowest rate in 50 years.
ABS data shows our economy grew by 9.1 per cent over the past two years – more than New South Wales, Queensland, Western Australia and Tasmania – and our economy is also forecast to continue outpacing every state over the next five years.
Business investment in Victoria is also strong. Investment grew by more than 13 per cent last calendar year, the largest increase of all the states and almost 6 percentage points higher than growth in the rest of Australia.
The Allan Labor Government has created the conditions for this growth, despite global cost-of-living pressures and high interest rates, by backing business investment, public investment and a return to strong population growth.
The Victorian Budget 2024/25 is firmly focused on the things that matter to families – helping with the cost of living and investing in the education, healthcare, housing and transport that Victorians rely on.
While we continue to deliver the infrastructure and world-class services that families need, this year’s Budget makes sensible, disciplined decisions to deal with the challenges ahead: high inflation and workforce constraints.
High inflation is being experienced here in Victoria, across Australia and around the world. The rising price of materials, labour and transportation – driven by the pandemic, global conflict and broader economic conditions – have all pushed up the costs of construction by around 22 per cent since 2021.
We also face workforce constraints. Infrastructure Australia estimates that demand for workers exceeds the current national public infrastructure workforce by 129 per cent, and it’s a similar story in our caring and social sectors too – with shortages in the early childhood, aged care and mental health workforces.
Right now, we have state-transforming transport projects underway, including Metro Tunnel, West Gate Tunnel and North East Link – but at the same time, we have a huge amount of funding tied up with the Melbourne Airport Rail project.
We need to be realistic about the project and its timeline – the Commonwealth Government has only recently appointed an independent mediator, and the Airport has not indicated it is prepared to drop its demands for compensation and an underground station.
We’ve made the sensible decision to acknowledge that the project is now at least four years delayed. This will allow us to get on with delivering other projects.
We’ve also reviewed and addressed COVID-era programs that have served their purpose and are no longer needed. We’ll reduce the Government’s advertising spend and will reduce office space across government in acknowledgement that a couple of days working from home is now the norm.
With unemployment at near-record lows, we need to be pragmatic about the challenges this creates – just as we carefully balance and support our infrastructure workforce, we need to do the same with our early education and care sector.
We’ll take a more gradual approach with our Pre-Prep reforms and the rollout of our Mental Health and Wellbeing Locals, so we can train and recruit the workers these programs need to succeed.
Breakthrough Victoria has been successful, deploying more than $330 million, including investments in 24 companies.
With Victoria’s economy recovering strongly, this Budget will rephase its funding, with a reduced $90 million a year over the forward estimates – and its investment profile extended from 10 to 15 years, allowing more time to review and be selective about quality investments.
The result of this sensible and disciplined approach is that we’re continuing to strengthen our financial position.
In 2020, during the pandemic, we laid out a four-step strategy for strong and sensible financial management.
The first and most important step was to let the state’s balance sheet absorb the blow of the pandemic – protecting jobs, businesses and lives.
The second step – returning to an operating cash surplus – is a key measure of fiscal sustainability. We achieved an operating cash surplus of $4.2 billion in 2022-23, and the Budget forecasts an operating cash surplus across the forward estimates, reaching $6.1 billion in 2027-28.
We’re on track for Step Three: this Budget forecasts an operating surplus of $1.5 billion in 2025-26 – higher than we promised before the 2022 election, which then increases to $1.6 billion in 2026-27 and $1.9 billion in 2027-28.
With this Budget we’ve also been able to deliver on Step Four – stabilising debt levels – with these growing operating cash surpluses funding a higher proportion of capital expenditure, reducing the reliance on borrowings.
Because of our disciplined approach, we can now pursue an updated fiscal strategy and add Step Five: reducing net debt as a proportion of the state’s economy. This Budget will see net debt to GSP fall for the first time since 2017.
Net debt is expected to be $156.2 billion in June 2025 – or 24.4 per cent of GSP, before reaching 25.2 per cent in 2026-27 and then declining to 25.1 per cent in 2027-28.
In last year’s Budget, we outlined landmark tax reform to transition away from stamp duty for commercial and industrial properties[FACT_009].
We have worked closely with industry and the property sector to finalise this reform, and we’ll remove the upfront cost of stamp duty from 1 July 2024[FACT_011].
This is a $266 million tax cut that will benefit the property industry and Victorian businesses, and make it easier for them to set up, invest in new land and buildings, or expand to employ more Victorians[FACT_016].
The reform will add 12,600 jobs and benefit Victoria’s economy by up to $50 billion over the next 40 years [FACT_016].
While we make savings to reduce back-office duplication and inefficiencies, we’re investing in the things families need most – including easing the cost-of-living pressure being felt here and around the world.
Our one-off $400 School Saving Bonus will help to cover the cost of uniforms, camps, excursions and other extracurricular activities through the school year, giving families one less thing to worry about.
We’re building 16 new public schools in our fastest-growing areas, investing to maintain schools in every corner of the state – and spending $139 million [OV_063]to get more teachers into schools and make sure they are equipped to help students be their best.
The biggest ever multi-year investment in our health system will deliver $11 billion to make sure every Victorian has access to world-class healthcare.
This Budget also invests $1.7 billion for a new emergency department for the Northern Hospital, with a dedicated paediatrics zone, a mental health, alcohol and other drugs hub and extra inpatient beds.
We’ll also deliver a new emergency department for the Austin Hospital and expand the Monash Medical Centre, with bigger maternity care facilities, new operating suites and a new intensive care unit.
We’ll give more Victorians a safe and secure roof over their head, with $107 million to advance our ambitious housing agenda, delivering social and affordable homes for Victorians who need them most – and to improve our public housing and strengthen Victoria's building industry.
We’re investing an additional $700 million to extend the Victorian Homebuyer Fund, while increasing the regional price cap and the threshold for single parents, to help more people realise their dream of owning a home.
With the Commonwealth Government establishing Help to Buy, a nationwide shared equity scheme, the Victorian Government will make a final investment in the Victorian Homebuyer Fund and will transition to the national scheme once it’s established.
Since 2014, we have invested $120 billion to plan, build, operate and upgrade Victoria’s transport network – and now it’s time to bring those projects to life, with $996 million to switch on Big Build transport projects like the Metro Tunnel, the most transformational public transport project since the City Loop.
To be able to continue to deliver these kinds of state-shaping projects, we need to build our future workforce starting today. This Budget builds on our nation-leading training investments with an extra $555 million to extend access to free TAFE, support apprentices and trainees, and train more mental health professionals.
We’ll continue to grow our economy by supporting startups, continuing the vital work of LaunchVic for a further four years.
Since 2017, LaunchVic has supported more than 11,400 entrepreneurs to upskill, and more than 1,000 startups have graduated from its funded pre-accelerator and accelerator programs – and the program has activated more than $830 million of private capital.
This Budget also builds on Victoria’s partnership with BioNTech to establish its Asia‑Pacific mRNA clinical manufacturing facility, Innovation Centre and AI Early Warning System in Melbourne – boosting our expertise and creating more jobs in one of the world’s leading medical research cities.
This is a Budget that delivers cost-of-living help and invests in the projects and services that Victorians rely on – because this is a Budget that’s helping families.
Quotes attributable to Treasurer Tim Pallas
“With a record number of people in jobs and our economy forecast to keep growing, Victorians have good reason to feel positive about the future.”
“This Budget is about helping Victorian families with the most important things – continuing our investment in the education, health, housing and transport services Victorians rely on, while providing cost-of-living relief.”
“We’re facing up to the economic challenges faced around the world with sensible, disciplined decisions – we won’t shy away from reality.”
The Allan Labor Government’s first Budget is dedicated to helping families in Werribee.
Whether it’s helping with the cost of living, making sure our kids can be their best, record funding for our healthcare system or continuing to invest in more of the services families rely on – the Victorian Budget 2024/25 invests in our community.
With the current cost of living, covering supplies and extracurricular activities can be hard on families doing it tough. Uniforms, camps and excursions – it all adds up.
That’s why we are providing a one-off School Saving Bonus to help cover the costs. This $400 bonus will help make sure our kids have everything they need for the school day, supporting families with children at government schools and families at our non-government schools who need it most.
Dedicated to helping cover the cost of learning essentials and the extracurriculars that make school fun – we’ll work with schools to make it available for the start of the 2025 school year.
We’re also tripling our free Glasses for Kids program – making sure even more young Victorians can be their best in the classroom, and beyond. Having already helped 34,000 kids across our state – this investment will help 74,000 more, providing free vision screening and prescription glasses for students who need it.
And because we know that learning isn’t limited to the classroom, we’re investing $6 million to extend our Get Active Kids vouchers – providing up to $200 to help eligible families with the cost of sporting club registration, uniforms and equipment.
With this Budget, we’re investing more than $1.8 billion to continue building the Education State – and building a better future for Victoria’s children.
Families should be able to count on having a great local school – no matter where they live. We promised to build 100 new schools by 2026. Already, we’ve opened 75 primary, secondary and specialist schools where they’re needed most, with a further nine on the way.
This year’s Budget invests $948 million to deliver the remaining 16 new schools – and deliver on our promise to Victorian families. That includes a brand-new specialist school for Point Cook. The new Point Cook South Specialist School will support the needs of our growing community – and give every family confidence they can rely on a great local school. A further $20 million will deliver new roads and servicing infrastructure as part of the East Werribee Precinct to support the delivery of the new school.
We’ll also continue to meet the future needs of local families, with funding to acquire land for a new secondary school in Wyndham keeping pace with our growing population.
And we’re making sure no student misses out, investing in the Disabilities Transport Program with funding for a new service for Werribee – ensuring kids can get to and from school.
Last year, our Free Kinder program saved around 140,000 families up to $2,500 in fees, helping with the cost of living and ensuring cost was not a barrier to participation. This year’s Budget continues this investment with an additional $129 million to continue delivering Free Kinder and the statewide rollout of Three‑Year‑Old Kinder.
An extra $19 million will deliver new Building Blocks grants – enabling kinders to renovate and upgrade early learning facilities. From expanding classrooms to funding native gardens, upgrading technology or transforming outdoor play spaces, these projects are an investment in our youngest learners.
We know how important our frontline healthcare services are for patients and their families. Since we came to government, Victoria’s public hospitals now employ over 5,000 more doctors, and over 13,000 more nurses. During the pandemic, when our health system was stretched like never before, we acted decisively – providing record funding to bolster our health system.
Since the pandemic, the cost of running our health system has continued to increase – but every cent is worth it to keep Victorians healthy. That’s why we’re making the biggest multi-year investment in our health system in Victoria’s history. It’ll mean our hospitals have the long-term certainty they need over the coming years.
Each investment is for the people of Werribee.
Because this is a Budget – and a Government – dedicated to helping families.
Quotes attributable to Member for Werribee Tim Pallas
“The Allan Labor Government’s first Budget is dedicated to helping families – providing much-needed cost of living relief and making sure kids don’t miss out.”
“This Budget also invests in the projects our growing community needs – with new schools and more support for local families.”
The Allan Labor Government’s first Budget is dedicated to helping families in Werribee.
Whether it’s helping with the cost of living, making sure our kids can be their best, record funding for our healthcare system or continuing to invest in more of the services families rely on – the Victorian Budget 2024/25 invests in our community.
With the current cost of living, covering supplies and extracurricular activities can be hard on families doing it tough. Uniforms, camps and excursions – it all adds up.
That’s why we are providing a one-off School Saving Bonus to help cover the costs. This $400 bonus will help make sure our kids have everything they need for the school day, supporting families with children at government schools and families at our non-government schools who need it most.
Dedicated to helping cover the cost of learning essentials and the extracurriculars that make school fun – we’ll work with schools to make it available for the start of the 2025 school year.
We’re also tripling our free Glasses for Kids program – making sure even more young Victorians can be their best in the classroom, and beyond. Having already helped 34,000 kids across our state – this investment will help 74,000 more, providing free vision screening and prescription glasses for students who need it.
And because we know that learning isn’t limited to the classroom, we’re investing $6 million to extend our Get Active Kids vouchers – providing up to $200 to help eligible families with the cost of sporting club registration, uniforms and equipment.
With this Budget, we’re investing more than $1.8 billion to continue building the Education State – and building a better future for Victoria’s children.
Families should be able to count on having a great local school – no matter where they live. We promised to build 100 new schools by 2026. Already, we’ve opened 75 primary, secondary and specialist schools where they’re needed most, with a further nine on the way.
This year’s Budget invests $948 million to deliver the remaining 16 new schools – and deliver on our promise to Victorian families. That includes a brand-new specialist school for Point Cook. The new Point Cook South Specialist School will support the needs of our growing community – and give every family confidence they can rely on a great local school. A further $20 million will deliver new roads and servicing infrastructure as part of the East Werribee Precinct to support the delivery of the new school.
We’ll also continue to meet the future needs of local families, with funding to acquire land for a new secondary school in Wyndham keeping pace with our growing population.
And we’re making sure no student misses out, investing in the Disabilities Transport Program with funding for a new service for Werribee – ensuring kids can get to and from school.
Last year, our Free Kinder program saved around 140,000 families up to $2,500 in fees, helping with the cost of living and ensuring cost was not a barrier to participation. This year’s Budget continues this investment with an additional $129 million to continue delivering Free Kinder and the statewide rollout of Three‑Year‑Old Kinder.
An extra $19 million will deliver new Building Blocks grants – enabling kinders to renovate and upgrade early learning facilities. From expanding classrooms to funding native gardens, upgrading technology or transforming outdoor play spaces, these projects are an investment in our youngest learners.
We know how important our frontline healthcare services are for patients and their families. Since we came to government, Victoria’s public hospitals now employ over 5,000 more doctors, and over 13,000 more nurses. During the pandemic, when our health system was stretched like never before, we acted decisively – providing record funding to bolster our health system.
Since the pandemic, the cost of running our health system has continued to increase – but every cent is worth it to keep Victorians healthy. That’s why we’re making the biggest multi-year investment in our health system in Victoria’s history. It’ll mean our hospitals have the long-term certainty they need over the coming years.
Each investment is for the people of Werribee.
Because this is a Budget – and a Government – dedicated to helping families.
Quotes attributable to Member for Werribee Tim Pallas
“The Allan Labor Government’s first Budget is dedicated to helping families – providing much-needed cost of living relief and making sure kids don’t miss out.”
“This Budget also invests in the projects our growing community needs – with new schools and more support for local families.”
The Allan Labor Government today announced a $37 million investment in World View and its groundbreaking technology aimed at revolutionising stratospheric balloon remote sensing services.
A strategic investment made through Breakthrough Victoria, this will enable World View to establish an Indo-Pacific headquarters in Melbourne, including an advanced manufacturing facility, creating up to 200 jobs in engineering, data science and material science.
World View is at the forefront of manufacturing, launching and controlling stratospheric balloons that provide on-demand, high-resolution sensing, weather monitoring and communication services.
Future plans for World View include expanding into space tourism via the stratosphere, building and operating launch locations across the globe, including Spaceport Great Barrier Reef in Queensland.
With World View’s patented dual-balloon system, the company offers unparalleled capabilities, boasting a market leading size and weight, augmenting existing alternatives such as satellites and unmanned aerial vehicles.
World View’s expansion will establish Victoria as a hub for stratospheric remote sensing research, with investments in research and development across Australian universities and research centres.
The establishment of their head office at Melbourne Connect in Parkville places World View at one of the epicentres of research in Victoria and will foster collaboration and innovation, positioning Victoria as a leader in aerospace technology.
Quote attributable to Treasurer Tim Pallas
“World View’s cutting-edge technology and future jobs, especially in highly skilled areas of engineering, data science and material science, will create fantastic opportunities for Victoria and Australia.”
Quotes attributable to Breakthrough Victoria CEO, Grant Dooley
“We are thrilled to partner with World View in their mission to transform the way we approach stratospheric balloon technology. World View’s innovative solutions have the potential to revolutionise various industries, from remote sensing to communications.”
Quotes attributable to World View CEO, Ryan M. Hartman
“Australia, especially Victoria, offers unprecedented access to incredibly skilled global talent, cutting-edge technology, promising partnerships, smart capital, and significant geographic leverage to support our Indo-Pacific remote sensing and future space tourism operations. We are eager to get to work in Victoria.”
The Allan Labor Government today announced a $37 million investment in World View and its groundbreaking technology aimed at revolutionising stratospheric balloon remote sensing services.
A strategic investment made through Breakthrough Victoria, this will enable World View to establish an Indo-Pacific headquarters in Melbourne, including an advanced manufacturing facility, creating up to 200 jobs in engineering, data science and material science.
World View is at the forefront of manufacturing, launching and controlling stratospheric balloons that provide on-demand, high-resolution sensing, weather monitoring and communication services.
Future plans for World View include expanding into space tourism via the stratosphere, building and operating launch locations across the globe, including Spaceport Great Barrier Reef in Queensland.
With World View’s patented dual-balloon system, the company offers unparalleled capabilities, boasting a market leading size and weight, augmenting existing alternatives such as satellites and unmanned aerial vehicles.
World View’s expansion will establish Victoria as a hub for stratospheric remote sensing research, with investments in research and development across Australian universities and research centres.
The establishment of their head office at Melbourne Connect in Parkville places World View at one of the epicentres of research in Victoria and will foster collaboration and innovation, positioning Victoria as a leader in aerospace technology.
Quote attributable to Treasurer Tim Pallas
“World View’s cutting-edge technology and future jobs, especially in highly skilled areas of engineering, data science and material science, will create fantastic opportunities for Victoria and Australia.”
Quotes attributable to Breakthrough Victoria CEO, Grant Dooley
“We are thrilled to partner with World View in their mission to transform the way we approach stratospheric balloon technology. World View’s innovative solutions have the potential to revolutionise various industries, from remote sensing to communications.”
Quotes attributable to World View CEO, Ryan M. Hartman
“Australia, especially Victoria, offers unprecedented access to incredibly skilled global talent, cutting-edge technology, promising partnerships, smart capital, and significant geographic leverage to support our Indo-Pacific remote sensing and future space tourism operations. We are eager to get to work in Victoria.”
Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (09:36): I rise to update the house on the recent allocations from the Growth Areas Infrastructure Contribution Fund, known as GAIC, to the great Werribee community. An allocation will assist Wyndham council with the completion of the Ison Road project. Werribee locals know that this is a critical and necessary road link that will connect to the Ison Road rail overpass bridge that is currently under construction. The Ison Road connection will provide direct access to the Princes Freeway from the developing area of Mambourin, Manor Lakes and Wyndham Vale and ease traffic gridlock through the Werribee CBD. It is essential to get it done, and this government is committed to working in cooperation with our Commonwealth colleagues and local government to do exactly that.
I am also excited that this latest allocation includes funding for not only road infrastructure but new bus connections to Wyndham Vale train station from the Hartley estate and Cornerstone estate communities. This is an important service for a growing community. Just as exciting is the acquisition of land for the proposed government secondary school in Wollahra along with funding for a new Ambulance Victoria branch and SES facility in Wyndham Vale. So I think it is fair to say that the Allan Labor government is continuing to deliver for the west. People want to live close to transport, schools and essential services, and this investment will deliver the kind of infrastructure that is in fact needed.
Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (09:36): I rise to update the house on the recent allocations from the Growth Areas Infrastructure Contribution Fund, known as GAIC, to the great Werribee community. An allocation will assist Wyndham council with the completion of the Ison Road project. Werribee locals know that this is a critical and necessary road link that will connect to the Ison Road rail overpass bridge that is currently under construction. The Ison Road connection will provide direct access to the Princes Freeway from the developing area of Mambourin, Manor Lakes and Wyndham Vale and ease traffic gridlock through the Werribee CBD. It is essential to get it done, and this government is committed to working in cooperation with our Commonwealth colleagues and local government to do exactly that.
I am also excited that this latest allocation includes funding for not only road infrastructure but new bus connections to Wyndham Vale train station from the Hartley estate and Cornerstone estate communities. This is an important service for a growing community. Just as exciting is the acquisition of land for the proposed government secondary school in Wollahra along with funding for a new Ambulance Victoria branch and SES facility in Wyndham Vale. So I think it is fair to say that the Allan Labor government is continuing to deliver for the west. People want to live close to transport, schools and essential services, and this investment will deliver the kind of infrastructure that is in fact needed.
Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (14:30): Victoria is leading the nation in the build-to-rent market. State incentives are helping to expand rental options for people at all stages of life. We know that, as long as rental supply is low, rental prices will remain high. That is why we are approving and delivering more homes for renters in established suburbs close to jobs, transport and services. Eligible build-to-rent developments are prioritised for fast-track approvals, while those completed and operational from 2022 to 2031 will receive a 50 per cent land tax concession for up to 30 years and a full exemption from absentee owner surcharge. For the edification of those opposite, that is two tax cuts. As of last year, Melbourne was home to more than half of all build-to-rent projects completed in Australia and 83 per cent of the total number of units built. At the time, the Australian Financial Review described Melbourne as the only Australian city that will have developed a build-to-rent market of scale by 2030.
Unlike the Leader of the Opposition, who opposes housing in his own electorate, or the member for Brighton, who shamefully campaigned to close a boarding house for rough sleepers in his electorate, we are a government that actually want to deliver stable and affordable housing for Victorians. We acknowledge that this is a housing crisis in this country – that young people, or at least young people without a trust fund, are not getting the same opportunity to own their own property or get into secure affordable rentals the way the older generation did. Housing may just be the defining issue of our times, and this government is not going to shirk from the hard decisions. Instead we are going to keep delivering the housing outcomes that Victorians need and deserve, and build to rent, like our big build, is a vital part of that.
Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (14:30): Victoria is leading the nation in the build-to-rent market. State incentives are helping to expand rental options for people at all stages of life. We know that, as long as rental supply is low, rental prices will remain high. That is why we are approving and delivering more homes for renters in established suburbs close to jobs, transport and services. Eligible build-to-rent developments are prioritised for fast-track approvals, while those completed and operational from 2022 to 2031 will receive a 50 per cent land tax concession for up to 30 years and a full exemption from absentee owner surcharge. For the edification of those opposite, that is two tax cuts. As of last year, Melbourne was home to more than half of all build-to-rent projects completed in Australia and 83 per cent of the total number of units built. At the time, the Australian Financial Review described Melbourne as the only Australian city that will have developed a build-to-rent market of scale by 2030.
Unlike the Leader of the Opposition, who opposes housing in his own electorate, or the member for Brighton, who shamefully campaigned to close a boarding house for rough sleepers in his electorate, we are a government that actually want to deliver stable and affordable housing for Victorians. We acknowledge that this is a housing crisis in this country – that young people, or at least young people without a trust fund, are not getting the same opportunity to own their own property or get into secure affordable rentals the way the older generation did. Housing may just be the defining issue of our times, and this government is not going to shirk from the hard decisions. Instead we are going to keep delivering the housing outcomes that Victorians need and deserve, and build to rent, like our big build, is a vital part of that.
Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (14:36): I think I will take this as the Minister for Economic Growth if I can, because I am very excited that I can announce that last month I partnered with RayGen Resources on a $20 million investment from the state of Victoria to enable the state’s transition to clean sources of energy following the great leadership of our Minister for Energy and Resources.
RayGen has developed photovoltaic solar panels that generate nearly 2000 times more power than traditional solar systems under a concentrated beam of sunlight. Proudly a Victorian company, RayGen has been operating since 2015 at a test facility in Newbridge, which is in the member for Ripon’s electorate, while their flagship solar and storage project is in Mildura. While most solar panels used in Australia are made overseas, RayGen’s solar modules will be made in Victoria, with a new manufacturing facility under construction in Hawthorn East. It is not clear to me whether the member for Hawthorn supports this or opposes it, just like he opposes housing developments in his electorate.
We are supporting good ideas like RayGen’s energy storage solution, keeping our best and our brightest minds and ideas on home soil and creating jobs, good jobs for Victorians. The sun is indeed shining on Victoria’s job creation. More than half a million Victorians have secured employment since September 2020, and that was the height of the pandemic. We have created over 100,000 more jobs than any other state in the nation. The economic outlook for Victoria is also the most robust of all the states. Deloitte Access Economics has forecast that our economy will be the fastest growing in the nation over the next five years, so Victoria is leading the way.
Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (14:36): I think I will take this as the Minister for Economic Growth if I can, because I am very excited that I can announce that last month I partnered with RayGen Resources on a $20 million investment from the state of Victoria to enable the state’s transition to clean sources of energy following the great leadership of our Minister for Energy and Resources.
RayGen has developed photovoltaic solar panels that generate nearly 2000 times more power than traditional solar systems under a concentrated beam of sunlight. Proudly a Victorian company, RayGen has been operating since 2015 at a test facility in Newbridge, which is in the member for Ripon’s electorate, while their flagship solar and storage project is in Mildura. While most solar panels used in Australia are made overseas, RayGen’s solar modules will be made in Victoria, with a new manufacturing facility under construction in Hawthorn East. It is not clear to me whether the member for Hawthorn supports this or opposes it, just like he opposes housing developments in his electorate.
We are supporting good ideas like RayGen’s energy storage solution, keeping our best and our brightest minds and ideas on home soil and creating jobs, good jobs for Victorians. The sun is indeed shining on Victoria’s job creation. More than half a million Victorians have secured employment since September 2020, and that was the height of the pandemic. We have created over 100,000 more jobs than any other state in the nation. The economic outlook for Victoria is also the most robust of all the states. Deloitte Access Economics has forecast that our economy will be the fastest growing in the nation over the next five years, so Victoria is leading the way.
The Allan Labor Government and French relations will strengthen with the opening of a new Consulate General in Melbourne, providing an important foundation for deeper economic ties with a key European partner.
Minister for Economic Growth Tim Pallas today welcomed the announcement of the new Consulate General of France in Melbourne which will foster greater collaboration, maximise trade and investment opportunities and enhance bilateral ties.
This year marks the 170th anniversary of the 1854 opening of French diplomatic representation in Melbourne. The new Consulate General opening is scheduled for September.
In December 2023, Victoria entered into a bilateral agreement with France to pursue stronger trade and investment ties across a range of sectors.
The new commitment by the French Government follows the opening of a Victorian Government Trade and Investment office in Paris, dedicated to Europe and growing Victoria’s global network to 23 international offices.
Since opening in 2023, the Paris office has delivered several trade missions including the Vivatech in Paris, Formnext in Frankfurt, Bio Europe Spring conference in Barcelona and Cosmoprof in Bologna.
With two-way merchandise trade valued at $2.1 billion in 2022-23, France is an important trading partner for Victoria. France is also one of the largest foreign investors in Victoria, with French capital equal to $5.4 billion invested over the past six years, creating more than 1,300 jobs.
Prominent French organisations such as RATP, EDF, Neoen and the French National Centre for Scientific Research, build on other significant investors in Victoria including Alstom, Air Liquide and Thales.
The Victorian Government also welcomes the recent announcement of a new Consulate General of Ireland in Melbourne – bolstering the state’s engagement and access to the European Union’s market of 448 million consumers.
Exports play a critical role in Victoria’s economic growth, contributing more than $58 billion annually to the state’s economy and supporting over 330,000 jobs.
Quotes attributable to Minister for Economic Growth Tim Pallas
“Victoria and France are poised to embark on a journey of mutual economic growth, amplifying trade, investment, and cultural exchange opportunities with the important establishment of the new Consulate General of France in Melbourne.”
“This historic step forward for Victoria-France bilateral relations affords Victorian companies a prime position to access more opportunities and extend the reach of their products and services to new markets, while creating more jobs here at home.”
“I’d like to pass my appreciation and congratulations to Pierre-André Imbert, the Ambassador of France to Australia, the former ambassador Jean-Pierre Thibault and the outgoing Honorary Consul General of France in Victoria, Myriam Boisbouvier-Wylie."
The Allan Labor Government and French relations will strengthen with the opening of a new Consulate General in Melbourne, providing an important foundation for deeper economic ties with a key European partner.
Minister for Economic Growth Tim Pallas today welcomed the announcement of the new Consulate General of France in Melbourne which will foster greater collaboration, maximise trade and investment opportunities and enhance bilateral ties.
This year marks the 170th anniversary of the 1854 opening of French diplomatic representation in Melbourne. The new Consulate General opening is scheduled for September.
In December 2023, Victoria entered into a bilateral agreement with France to pursue stronger trade and investment ties across a range of sectors.
The new commitment by the French Government follows the opening of a Victorian Government Trade and Investment office in Paris, dedicated to Europe and growing Victoria’s global network to 23 international offices.
Since opening in 2023, the Paris office has delivered several trade missions including the Vivatech in Paris, Formnext in Frankfurt, Bio Europe Spring conference in Barcelona and Cosmoprof in Bologna.
With two-way merchandise trade valued at $2.1 billion in 2022-23, France is an important trading partner for Victoria. France is also one of the largest foreign investors in Victoria, with French capital equal to $5.4 billion invested over the past six years, creating more than 1,300 jobs.
Prominent French organisations such as RATP, EDF, Neoen and the French National Centre for Scientific Research, build on other significant investors in Victoria including Alstom, Air Liquide and Thales.
The Victorian Government also welcomes the recent announcement of a new Consulate General of Ireland in Melbourne – bolstering the state’s engagement and access to the European Union’s market of 448 million consumers.
Exports play a critical role in Victoria’s economic growth, contributing more than $58 billion annually to the state’s economy and supporting over 330,000 jobs.
Quotes attributable to Minister for Economic Growth Tim Pallas
“Victoria and France are poised to embark on a journey of mutual economic growth, amplifying trade, investment, and cultural exchange opportunities with the important establishment of the new Consulate General of France in Melbourne.”
“This historic step forward for Victoria-France bilateral relations affords Victorian companies a prime position to access more opportunities and extend the reach of their products and services to new markets, while creating more jobs here at home.”
“I’d like to pass my appreciation and congratulations to Pierre-André Imbert, the Ambassador of France to Australia, the former ambassador Jean-Pierre Thibault and the outgoing Honorary Consul General of France in Victoria, Myriam Boisbouvier-Wylie."
Regional Victoria continues to create new jobs under the Allan Labor Government, with several thousand created last month.
The Australian Bureau of Statistics’ (ABS) regional labour force data, released yesterday, shows that another 6,700 people in regional Victoria found jobs in the past month.
Reflecting the strength of the state’s economy, the number of people employed in Victorian regional communities is now 828,500 – an all-time high.
Victoria’s regional unemployment rate remains below the national average, at a low 3.7 per cent.
According to the ABS data, unemployment remains low in many areas of Victoria, including Warrnambool and the South West (2.2 per cent), Hume (2.9 per cent), Bendigo (3.1 per cent) and Geelong (3.5 per cent).
Regional employment in Victoria has grown by more than 25 per cent since November 2014, the strongest state growth over this period.
Employment has also risen in Melbourne – increasing by more than 86,000 people in metropolitan Melbourne over the past 12 months, a 3.1 per cent increase that is well above the nation’s capital city average of 2.3 per cent.
Recent ABS national accounts data show Victoria had the largest business investment increase of all the states in 2023 – up by more than 13 per cent – building on strong growth of nearly eight per cent in the previous year.
Independent analysts Deloitte Access Economics forecasts Victoria’s economy to grow by 3.1 per cent in 2023-24, the strongest growth in the country.
Deloitte Access Economics expect Victoria’s economic growth to outpace all other states over the next five years.
Quotes attributable to Treasurer Tim Pallas
“Victoria’s regional jobs growth success is really something to celebrate, because it means Victorians are accessing great work opportunities and economic independence across the state.”
“Having high numbers of regional Victorians in secure work helps drive our economy forward, and spreads prosperity and growth to communities in every corner of the state.”
Regional Victoria continues to create new jobs under the Allan Labor Government, with several thousand created last month.
The Australian Bureau of Statistics’ (ABS) regional labour force data, released yesterday, shows that another 6,700 people in regional Victoria found jobs in the past month.
Reflecting the strength of the state’s economy, the number of people employed in Victorian regional communities is now 828,500 – an all-time high.
Victoria’s regional unemployment rate remains below the national average, at a low 3.7 per cent.
According to the ABS data, unemployment remains low in many areas of Victoria, including Warrnambool and the South West (2.2 per cent), Hume (2.9 per cent), Bendigo (3.1 per cent) and Geelong (3.5 per cent).
Regional employment in Victoria has grown by more than 25 per cent since November 2014, the strongest state growth over this period.
Employment has also risen in Melbourne – increasing by more than 86,000 people in metropolitan Melbourne over the past 12 months, a 3.1 per cent increase that is well above the nation’s capital city average of 2.3 per cent.
Recent ABS national accounts data show Victoria had the largest business investment increase of all the states in 2023 – up by more than 13 per cent – building on strong growth of nearly eight per cent in the previous year.
Independent analysts Deloitte Access Economics forecasts Victoria’s economy to grow by 3.1 per cent in 2023-24, the strongest growth in the country.
Deloitte Access Economics expect Victoria’s economic growth to outpace all other states over the next five years.
Quotes attributable to Treasurer Tim Pallas
“Victoria’s regional jobs growth success is really something to celebrate, because it means Victorians are accessing great work opportunities and economic independence across the state.”
“Having high numbers of regional Victorians in secure work helps drive our economy forward, and spreads prosperity and growth to communities in every corner of the state.”
The Allan Labor Government is investing in a suite of new infrastructure projects in Werribee to ensure more families have access to essential services close to home.
Werribee will benefit from nearly $130 million worth of projects funded through the Growth Areas Infrastructure Contribution (GAIC) fund – supporting Victorian families in our fastest growing suburbs.
Projects include:
$60 million to deliver a critical road link for the Ison Road Overpass.
More than $29 million for a proposed government school site identified in the Ballan Road Precinct Structure Plan.
$8 million to construct a new Ambulance Victoria branch.
More than $12 million to acquire and construct a Type B/C Victorian State Emergency Service facility in Wyndham Vale.
More than $21 million for a new bus connection between Harpley Estate and Cornerstone Estate communities, and Wyndham Vale Station.
The Labor Government is investing a total of $400 million into 37 infrastructure projects across Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham local government areas through the GAIC fund.
These projects complement the more than $685 million worth of initiatives already delivered across Melbourne’s growth areas through the GAIC fund – including ambulance sites, parks, schools and public transport.
The GAIC fund is a one-off contribution payable by landowners developing land that has been zoned for urban use and development in the Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham local government areas.
The fund supports the Labor Government’s landmark Housing Statement by delivering key transport, health, community and education infrastructure to ensure communities in growing suburbs have access to the services they need, close to where they live.
For more information on the GAIC fund, visit planning.vic.gov.au/guides-and-resources/legislation-regulation-and-fees/growth-areas-infrastructure-contributions.
Quotes attributable to Treasurer and Member for Werribee Tim Pallas
“Werribee will soon be home to a new school, more emergency services, better transport connections thanks to our government’s nearly $130 million investment in our growing community.”
“Contributions from developers help make these projects a reality - making sure they're not just building houses, but communities too across Victoria’s fastest growing suburbs.”
Quote attributable to Premier Jacinta Allan
“We know more Victorians want to live close to transport, schools and essential services – and this investment will deliver exactly the kind of infrastructure Victorian families need in our fastest growing suburbs.”
The Allan Labor Government is investing in a suite of new infrastructure projects in Werribee to ensure more families have access to essential services close to home.
Werribee will benefit from nearly $130 million worth of projects funded through the Growth Areas Infrastructure Contribution (GAIC) fund – supporting Victorian families in our fastest growing suburbs.
Projects include:
$60 million to deliver a critical road link for the Ison Road Overpass.
More than $29 million for a proposed government school site identified in the Ballan Road Precinct Structure Plan.
$8 million to construct a new Ambulance Victoria branch.
More than $12 million to acquire and construct a Type B/C Victorian State Emergency Service facility in Wyndham Vale.
More than $21 million for a new bus connection between Harpley Estate and Cornerstone Estate communities, and Wyndham Vale Station.
The Labor Government is investing a total of $400 million into 37 infrastructure projects across Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham local government areas through the GAIC fund.
These projects complement the more than $685 million worth of initiatives already delivered across Melbourne’s growth areas through the GAIC fund – including ambulance sites, parks, schools and public transport.
The GAIC fund is a one-off contribution payable by landowners developing land that has been zoned for urban use and development in the Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham local government areas.
The fund supports the Labor Government’s landmark Housing Statement by delivering key transport, health, community and education infrastructure to ensure communities in growing suburbs have access to the services they need, close to where they live.
For more information on the GAIC fund, visit planning.vic.gov.au/guides-and-resources/legislation-regulation-and-fees/growth-areas-infrastructure-contributions.
Quotes attributable to Treasurer and Member for Werribee Tim Pallas
“Werribee will soon be home to a new school, more emergency services, better transport connections thanks to our government’s nearly $130 million investment in our growing community.”
“Contributions from developers help make these projects a reality - making sure they're not just building houses, but communities too across Victoria’s fastest growing suburbs.”
Quote attributable to Premier Jacinta Allan
“We know more Victorians want to live close to transport, schools and essential services – and this investment will deliver exactly the kind of infrastructure Victorian families need in our fastest growing suburbs.”
The Allan Labor Government is supporting Victorian families with the critical infrastructure that makes our fastest growing suburbs better places to live – like new schools, health services, public transport and road upgrades.
Premier Jacinta Allan and Minister for Planning Sonya Kilkenny were at Whittlesea Early Parenting Centre (EPC) today to announce a more than $400 million package through the Growth Areas Infrastructure Contribution (GAIC) fund, which includes a new $9.6 million Enhanced Parenting Centre in Wallara Waters.
New mums and dads across the north are already benefiting from the new Whittlesea EPC – with specialised support, close to home – including sleep and settling, feeding and extra care for bubs with additional needs.
A total of 37 projects will be funded through the GAIC – including 10 from the Growth Areas Public Transport Fund and 27 from the Building New Communities Fund.
Some significant investments in the package include:
$60 million to deliver a critical road link for the Ison Road Overpass in Werribee
$35 million towards a new school in Cobblebank
A $29 million land purchase for a proposed government school in Wyndham Vale
More than $150 million for new bus services across Melbourne’s north, west and south east
$10 million for an intersection upgrade in Mernda to support a future major recreation precinct
$6 million for road and traffic upgrades in Pakenham
These projects complement the more than $685 million worth of initiatives the Labor Government has already delivered across Melbourne’s growth areas through the GAIC fund – including ambulance stations, parks, schools and public transport.
The GAIC fund is a one-off contribution payable by landowners developing certain land zoned for urban use and development in the Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham local government areas.
The fund supports the Labor Government’s landmark Housing Statement by delivering key transport, health, community and education infrastructure to ensure communities in growing suburbs have access to the services they need, close to where they live.
Quote attributable to Premier Jacinta Allan
“We know more Victorians want to live close to transport, schools and essential services – and this investment will deliver exactly the kind of infrastructure Victorian families need in our fastest growing suburbs.”
Quote attributable to Treasurer Tim Pallas
“Contributions help make these projects a reality – developers aren’t just building houses, but communities too.”
Quote attributable to Minister for Planning Sonya Kilkenny
“While we create the conditions for 800,000 new homes to be built over the next decade, we’re delivering schools and health services, parks and playgrounds – the community facilities and open spaces that families need.”
Quote attributable to Minister for Public Transport Gabrielle Williams
“We're investing in better transport links – from better bus routes, to upgraded train stations, to more cycling and walking paths to ensure these growing communities can access jobs, schools and services.”
Quote attributable to Minister for Education Ben Carroll
“We’re building new schools and services for our growing suburbs needs so more Victorian children can access the first-rate education they deserve, closer to home.”
Quote attributable to Minister for Health Infrastructure Mary-Anne Thomas
“Whether it’s new or upgraded ambulance branches or making it easier for locals to access our expanded Sunbury Community Hospital when it opens later this year, this infrastructure boost in our growing suburbs will ensure more Victorians can access health care closer to home.”
Quote attributable to Minister for Roads Melissa Horne
“These investments will ease congestion and make roads safer in communities where roads are vital to getting people to work or seeing family and friends.”
Quote attributable to Minister for Children Lizzie Blandthorn
“Becoming a new parent can be the happiest time in a person’s life, but it can also be challenging – that’s why we’re investing $9.5 million to build a new Early Parenting Centre in Wallara Waters to ensure more families can get the support they need.”
The Allan Labor Government is supporting Victorian families with the critical infrastructure that makes our fastest growing suburbs better places to live – like new schools, health services, public transport and road upgrades.
Premier Jacinta Allan and Minister for Planning Sonya Kilkenny were at Whittlesea Early Parenting Centre (EPC) today to announce a more than $400 million package through the Growth Areas Infrastructure Contribution (GAIC) fund, which includes a new $9.6 million Enhanced Parenting Centre in Wallara Waters.
New mums and dads across the north are already benefiting from the new Whittlesea EPC – with specialised support, close to home – including sleep and settling, feeding and extra care for bubs with additional needs.
A total of 37 projects will be funded through the GAIC – including 10 from the Growth Areas Public Transport Fund and 27 from the Building New Communities Fund.
Some significant investments in the package include:
$60 million to deliver a critical road link for the Ison Road Overpass in Werribee
$35 million towards a new school in Cobblebank
A $29 million land purchase for a proposed government school in Wyndham Vale
More than $150 million for new bus services across Melbourne’s north, west and south east
$10 million for an intersection upgrade in Mernda to support a future major recreation precinct
$6 million for road and traffic upgrades in Pakenham
These projects complement the more than $685 million worth of initiatives the Labor Government has already delivered across Melbourne’s growth areas through the GAIC fund – including ambulance stations, parks, schools and public transport.
The GAIC fund is a one-off contribution payable by landowners developing certain land zoned for urban use and development in the Cardinia, Casey, Hume, Melton, Mitchell, Whittlesea and Wyndham local government areas.
The fund supports the Labor Government’s landmark Housing Statement by delivering key transport, health, community and education infrastructure to ensure communities in growing suburbs have access to the services they need, close to where they live.
Quote attributable to Premier Jacinta Allan
“We know more Victorians want to live close to transport, schools and essential services – and this investment will deliver exactly the kind of infrastructure Victorian families need in our fastest growing suburbs.”
Quote attributable to Treasurer Tim Pallas
“Contributions help make these projects a reality – developers aren’t just building houses, but communities too.”
Quote attributable to Minister for Planning Sonya Kilkenny
“While we create the conditions for 800,000 new homes to be built over the next decade, we’re delivering schools and health services, parks and playgrounds – the community facilities and open spaces that families need.”
Quote attributable to Minister for Public Transport Gabrielle Williams
“We're investing in better transport links – from better bus routes, to upgraded train stations, to more cycling and walking paths to ensure these growing communities can access jobs, schools and services.”
Quote attributable to Minister for Education Ben Carroll
“We’re building new schools and services for our growing suburbs needs so more Victorian children can access the first-rate education they deserve, closer to home.”
Quote attributable to Minister for Health Infrastructure Mary-Anne Thomas
“Whether it’s new or upgraded ambulance branches or making it easier for locals to access our expanded Sunbury Community Hospital when it opens later this year, this infrastructure boost in our growing suburbs will ensure more Victorians can access health care closer to home.”
Quote attributable to Minister for Roads Melissa Horne
“These investments will ease congestion and make roads safer in communities where roads are vital to getting people to work or seeing family and friends.”
Quote attributable to Minister for Children Lizzie Blandthorn
“Becoming a new parent can be the happiest time in a person’s life, but it can also be challenging – that’s why we’re investing $9.5 million to build a new Early Parenting Centre in Wallara Waters to ensure more families can get the support they need.”
The Allan Labor Government is encouraging the thousands of Victorians who are eligible for a surprise windfall to search the State Revenue Office’s register and apply for their share of the unclaimed money.
Every year millions of dollars end up in the Victorian Unclaimed Money Register – with substantial funds to be claimed across Melbourne and regional Victoria.
Greater Geelong has the most unclaimed money – with more than 33,000 entitlements valued at over $4.3 million, followed by Ballarat (more than 14,000 entitlements, $1.8 million), Greater Bendigo (13,000, $1.8 million), Latrobe (13,000, $1.5 million), Greater Shepparton (9,000, $1.2 million) and Mildura (7,000, $1 million).
In metropolitan Melbourne, the City of Melbourne is the council area with the most unclaimed money – more than 67,000 entitlements worth over $17.7 million – followed by Boroondara ($9.8 million), Stonnington ($6.9 million) and Whitehorse ($6.6 million).
One Bendigo local has just over $137,000 waiting for them, while a Box Hill individual has a claim to more than $880,000, someone from Nunawading is owed more than $670,000 and a person in Mount Martha can apply for more than $232,000.
The State Revenue Office Victoria holds records of money that remains unclaimed after 12 months in Victoria from sources including share dividends, salaries and wages, rents and bonds, debentures and interest, proceeds from sales, and Tattersalls, Intralot and Tabcorp winnings and prizes.
To claim owed monies, visit sro.vic.gov.au/unclaimedmoney and search the register using a personal or company name and address.
Quote attributable to Minister for Economic Growth Tim Pallas
“We encourage Victorians to check the website and claim their unclaimed monies - this could provide substantial benefits to people if they make the effort. If you are not sure, our advice is to go to the website and check.’’
The Allan Labor Government is encouraging the thousands of Victorians who are eligible for a surprise windfall to search the State Revenue Office’s register and apply for their share of the unclaimed money.
Every year millions of dollars end up in the Victorian Unclaimed Money Register – with substantial funds to be claimed across Melbourne and regional Victoria.
Greater Geelong has the most unclaimed money – with more than 33,000 entitlements valued at over $4.3 million, followed by Ballarat (more than 14,000 entitlements, $1.8 million), Greater Bendigo (13,000, $1.8 million), Latrobe (13,000, $1.5 million), Greater Shepparton (9,000, $1.2 million) and Mildura (7,000, $1 million).
In metropolitan Melbourne, the City of Melbourne is the council area with the most unclaimed money – more than 67,000 entitlements worth over $17.7 million – followed by Boroondara ($9.8 million), Stonnington ($6.9 million) and Whitehorse ($6.6 million).
One Bendigo local has just over $137,000 waiting for them, while a Box Hill individual has a claim to more than $880,000, someone from Nunawading is owed more than $670,000 and a person in Mount Martha can apply for more than $232,000.
The State Revenue Office Victoria holds records of money that remains unclaimed after 12 months in Victoria from sources including share dividends, salaries and wages, rents and bonds, debentures and interest, proceeds from sales, and Tattersalls, Intralot and Tabcorp winnings and prizes.
To claim owed monies, visit sro.vic.gov.au/unclaimedmoney and search the register using a personal or company name and address.
Quote attributable to Minister for Economic Growth Tim Pallas
“We encourage Victorians to check the website and claim their unclaimed monies - this could provide substantial benefits to people if they make the effort. If you are not sure, our advice is to go to the website and check.’’
The Allan Labor Government is supporting Victoria’s transition to clean energy – backing an innovative solar and thermal water-based energy storage solution.
Minister for Economic Growth Tim Pallas today announced a $20 million investment in RayGen Resources which has developed photovoltaic solar modules that generate nearly 2,000 times more power than traditional solar systems under a concentrated beam of sunlight.
Combined with their thermal water-based storage system - which uses heat captured from water that is used to cool the modules - RayGen has developed a high-efficiency, long-duration energy storage solution that is easily scalable.
A Victorian company, RayGen has been operating at a test facility in Newbridge since 2015 while their flagship solar and storage project is in Mildura.
While most solar panels used in Australia are made overseas, RayGen’s solar modules will be made in Victoria with a new manufacturing facility under construction in Hawthorn East.
Breakthrough Victoria is an investment company that manages the Labor Government’s Breakthrough Victoria Fund. It joins RayGen’s existing strategic investors in SLB, Equinor Ventures, AGL Energy, Photon Energy Group, Chevron Technology Ventures and the Australian Renewable Energy Agency.
The funds will allow RayGen to secure manufacturing capability and create additional engineering and manufacturing jobs in Victoria - as well as support RayGen’s growth in Victoria, Australia and internationally.
Quotes attributable to Minister for Economic Growth Tim Pallas
“We’re supporting good ideas like RayGen’s energy storage solution - keeping our best and brightest minds and ideas on home soil and creating good jobs for Victorians.”
Quotes attributable to Breakthrough Victoria CEO Grant Dooley
"We are investing in RayGen Resources because they focus on what Victoria needs – sustainability, scale and local manufacturing. Their innovative energy storage technology will help us better transition to renewable energy.”
Quotes attributable to Minister for Energy and Resources Lily D’Ambrosio
“It’s great to see Victorian businesses taking the lead in new renewable energy technologies – this innovative solar technology will reduce emissions, bring down power bills while creating skilled local jobs.”
Quotes attributable to RayGen Resources CEO Richard Payne
“We’re delighted to be working with Breakthrough Victoria. We’re a Victorian-born company with global ambitions for dispatchable renewable energy generation and advanced manufacturing.”
The Allan Labor Government is supporting Victoria’s transition to clean energy – backing an innovative solar and thermal water-based energy storage solution.
Minister for Economic Growth Tim Pallas today announced a $20 million investment in RayGen Resources which has developed photovoltaic solar modules that generate nearly 2,000 times more power than traditional solar systems under a concentrated beam of sunlight.
Combined with their thermal water-based storage system - which uses heat captured from water that is used to cool the modules - RayGen has developed a high-efficiency, long-duration energy storage solution that is easily scalable.
A Victorian company, RayGen has been operating at a test facility in Newbridge since 2015 while their flagship solar and storage project is in Mildura.
While most solar panels used in Australia are made overseas, RayGen’s solar modules will be made in Victoria with a new manufacturing facility under construction in Hawthorn East.
Breakthrough Victoria is an investment company that manages the Labor Government’s Breakthrough Victoria Fund. It joins RayGen’s existing strategic investors in SLB, Equinor Ventures, AGL Energy, Photon Energy Group, Chevron Technology Ventures and the Australian Renewable Energy Agency.
The funds will allow RayGen to secure manufacturing capability and create additional engineering and manufacturing jobs in Victoria - as well as support RayGen’s growth in Victoria, Australia and internationally.
Quotes attributable to Minister for Economic Growth Tim Pallas
“We’re supporting good ideas like RayGen’s energy storage solution - keeping our best and brightest minds and ideas on home soil and creating good jobs for Victorians.”
Quotes attributable to Breakthrough Victoria CEO Grant Dooley
"We are investing in RayGen Resources because they focus on what Victoria needs – sustainability, scale and local manufacturing. Their innovative energy storage technology will help us better transition to renewable energy.”
Quotes attributable to Minister for Energy and Resources Lily D’Ambrosio
“It’s great to see Victorian businesses taking the lead in new renewable energy technologies – this innovative solar technology will reduce emissions, bring down power bills while creating skilled local jobs.”
Quotes attributable to RayGen Resources CEO Richard Payne
“We’re delighted to be working with Breakthrough Victoria. We’re a Victorian-born company with global ambitions for dispatchable renewable energy generation and advanced manufacturing.”
Job numbers under the Allan Labor Government have reached a record high, with Victoria’s strong economy enabling state businesses to continue to create more new jobs.
Australian Bureau of Statistics (ABS) data shows an additional 5,800 Victorians found jobs in March, propelling the total working population to more than 3.7 million.
A near record workforce participation rate of 67.3 per cent – above the national average – further demonstrates the strength of Victoria’s labour market.
Victoria continues to lead the nation in jobs growth since the September 2020 pandemic peak, with more than 560,000 new jobs created across the state.
Since 2014, the Labor Government has overseen the creation of more than 785,000 new jobs in Victoria – and the state’s unemployment rate remains low at 4.1 per cent.
Regional employment is at a record high 822,000, and the 3.5 per cent regional unemployment rate is the lowest of all states and territories.
ABS results also show Victoria had more new homes approved than any other state during the past five years. Approvals for the past year make up over 30 per cent of national approvals. Additionally, the ABS last week revealed more new homes were built in Victoria than in any other state or territory over the past year.
ABS national accounts data shows Victoria had the largest business investment increase of all the states in 2023 – up by more than 13 per cent – building on strong growth of almost 8 per cent in the previous year.
This investment growth reflects a steady stream of major projects bolstering employment opportunities.
Victoria’s strong economic prospects and employment growth has been forecast to outpace all other states over the next five years by independent analyst Deloitte Access Economics.
Quotes attributable to Treasurer Tim Pallas
“Victorians should feel very positive about our progress - the economy is thriving in the face of high inflation and a challenging global environment.”
“It is great to see so many Victorians in secure work, driving our economy while we deliver the homes and services Victorians need.’’
Job numbers under the Allan Labor Government have reached a record high, with Victoria’s strong economy enabling state businesses to continue to create more new jobs.
Australian Bureau of Statistics (ABS) data shows an additional 5,800 Victorians found jobs in March, propelling the total working population to more than 3.7 million.
A near record workforce participation rate of 67.3 per cent – above the national average – further demonstrates the strength of Victoria’s labour market.
Victoria continues to lead the nation in jobs growth since the September 2020 pandemic peak, with more than 560,000 new jobs created across the state.
Since 2014, the Labor Government has overseen the creation of more than 785,000 new jobs in Victoria – and the state’s unemployment rate remains low at 4.1 per cent.
Regional employment is at a record high 822,000, and the 3.5 per cent regional unemployment rate is the lowest of all states and territories.
ABS results also show Victoria had more new homes approved than any other state during the past five years. Approvals for the past year make up over 30 per cent of national approvals. Additionally, the ABS last week revealed more new homes were built in Victoria than in any other state or territory over the past year.
ABS national accounts data shows Victoria had the largest business investment increase of all the states in 2023 – up by more than 13 per cent – building on strong growth of almost 8 per cent in the previous year.
This investment growth reflects a steady stream of major projects bolstering employment opportunities.
Victoria’s strong economic prospects and employment growth has been forecast to outpace all other states over the next five years by independent analyst Deloitte Access Economics.
Quotes attributable to Treasurer Tim Pallas
“Victorians should feel very positive about our progress - the economy is thriving in the face of high inflation and a challenging global environment.”
“It is great to see so many Victorians in secure work, driving our economy while we deliver the homes and services Victorians need.’’