MINISTERS STATEMENT: ECONOMY

MR PALLAS (Werribee—Treasurer, Minister for Economic Development, Minister for Industrial Relations) (12:05): I rise to talk about the enormous difficulties that Victorians have endured—workers, businesses and everyone right across the state—during the most recent lockdown. But of course this government also knows that the only way to secure a sustained economic recovery is to control the virus. We have seen this here in Victoria, we have seen it around Australia and indeed we have seen it around the world.

Labour force figures released today show that more than 210 000 jobs were created in Victoria in the four months to January as we bounce back from the devastating impact of the coronavirus crisis. In our jobs plan, which we released in the budget, we said we would create 400 000 jobs by 2025. We are already well on track to achieving that goal, but of course we have met the interim target that we set. We are already ahead of the nation’s employment rate, and if it was not for Victoria’s January figures the nation’s jobs growth would have been negative. CommSec’s State of the States report ranked Victoria as number one for economic growth and construction work in the nation—proof that our Big Build is delivering a double dividend for Victorians.

While those opposite are off on fishing trips, poorly attended though they may be, we on this side of the house are rebuilding our state—and of course from the economic effects of a once-in-a-lifetime pandemic. As Deloitte Access Economics described the resurgence, our recovery was nothing short of remarkable—forecasting Victoria to grow the fastest in the nation, with a growth rate of 5.4 per cent. We are on our way. We have got a health plan to control the virus and to roll out the vaccine and a jobs plan that is securing all Victorians’ futures.