The Victorian Chamber of Commerce and Industry (VCCI) is calling on all sides of politics to demonstrate fiscal discipline during the election campaign, warning that Victoria cannot afford a new wave of costly promises.
Victoria is in the midst of a debt crisis. We cannot keep adding to that debt. Disciplined, targeted policy is fundamental to delivering lasting economic benefits, without adding unnecessary pressure to the State’s growing debt burden.
Responsible fiscal management is crucial to restoring confidence and encouraging businesses to invest and expand. New spending commitments should deliver a clear economic uplift, not simply add to future liabilities.
Businesses confidence is at an all-time low. This election must be the catalyst to conduct an independent review of State finances and implement a credible, sustainable fiscal strategy as outlined in VCCI’s business-led solutions platform: Maximising Victoria’s Potential and Competitiveness.
Quotes attributable to Victorian Chamber of Commerce and Industry Acting CEO Amelia Bitsis:
"Victoria's debt trajectory is unsustainable. Election commitments should be subject to a simple test: does it strengthen the economy, improve productivity and support future growth, or does it simply add to the State's liabilities?
"Victoria cannot spend its way out of a debt problem. Election commitments that increase spending without delivering a clear economic return will only make the challenge ahead greater. The priority must be restoring fiscal discipline, rebuilding confidence, and creating an environment where businesses can invest, employ and thrive."
"This election also presents an opportunity to reset the economic conversation around disciplined decision-making, sustainable finances and long-term prosperity."
Media contact: Gail Watson, [email protected], 0423 883 945
