Victoria Ranked Worst Australian State for Business

The Business Council of Australia named Victoria the least desirable state to start a business for the third consecutive year in its annual Regulation Rumble report. The ranking cited high taxes, slow regulation, and high unemployment as primary drivers. While Victoria ranked second for business insurance duties, its planning rank fell from fourth to last due to slow decision-making. South Australia was ranked as the best place to do business for the fourth year running.

Following the report, Ben Carroll, the Premier of Victoria, and Opposition Leader Jess Wilson presented competing economic plans at a Victorian Chamber of Commerce and Industry event in Melbourne. Carroll proposed shifting the state's focus from a big build strategy to a social build centered on health and education, while promising land tax cuts.

Wilson pledged to return Victoria to a cash surplus by 2032 by identifying $24 billion in savings. Her plan includes selling the Melbourne Market for $550 million and pausing the Suburban Railway Loop project. Other political groups, including the Liberal Party and One Nation, also pledged various forms of tax relief in response to the findings.