Tim PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (14:20): I am pleased to talk about the enormous opportunities that growth in the Victorian economy is presenting for all Victorians. This is being led by the state’s investment in the state-owned SEC – and a big shout-out to the Minister for Energy and Resources, who is doing a fantastic job of securing our zero-emissions future. Going back to the SEC means that we will be investing in renewables, and in so doing we will be creating lasting value for current and future generations. As well as helping achieve Victoria’s nation-leading renewable energy target, the new SEC will support the creation of 59,000 jobs. It will increase gross state product by $9.5 billion through the energy transition. We know that those opposite are scared of renewables, except maybe the members for Bulleen and Malvern. But we also know that it is fitting that we tell them on Halloween that this government’s investment in growth industries like renewables is not going to stop – not a ghost of a chance. Just this week Victoria has been recognised as the economic powerhouse of the nation.

He has been doing it all day, Speaker. Just this week Victoria was recognised as the economic powerhouse of the nation in the CommSec State of the States report. As the report says, strong economic activity, solid retail spending and business investment have seen Victoria again recognised as the engine room of the national economy. Victoria was ranked first on relative economic growth and construction work. In the past three years we have created more jobs than New South Wales, South Australia and Tasmania combined.