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From the Chief Executive - 11 May 2017

Submitted on Thursday, 11th May 2017

It has been a busy fortnight for all Australian businesses with both the State and Federal Budgets being handed down. To help our members understand what the Budgets will mean for them, we have developed information across a number of channels on how the measures will affect Victoria and Victorian businesses.

We appeared in media coverage across the state last week welcoming State Budget measures such as the decision to bring forward the increase in payroll tax threshold by a year and a 25 per cent reduction in the payroll tax for regional businesses.

This week we also welcomed the Federal Budget as a positive outcome for Victoria, building on the pro-business measures delivered in the State Budget.

Other major initiatives that will ensure Victoria continues to be a great place to live and work are the $1.45 billion Regional Rail Revival package, $2 billion to update regional roads, $44.4 million to maintain Victoria’s agricultural biosecurity and $25 million for Visit Victoria marketing activities.

A summary of our State Budget advocacy wins was printed and displayed for all guests at the second Victorian Chamber post-budget lunch with Victorian Treasurer Tim Pallas. Congratulations to the events team for a seamless event held in partnership with the Melbourne Press Club.

Looking to the fortnight ahead, participants in our Victoria Jiangsu Business Placement program departed yesterday, with 13 attendees signed up to take part in the 12-day program. The itinerary for each attendee has been tailored to their needs and meticulously planned by the Victorian Chamber’s global team and is sure to be a great success.

If you would like advice on how your business can expand and do business in Asia, contact our trade and investment professionals on 03 8662 5488.

Mark Stone AM

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