Victorian business growth lags nation under Labor New figures...

Victorian business growth lags nation under Labor

New figures released today by the Australian Bureau of Statistics (ABS) confirm that 152,650 Victorian businesses shut down across 2023-2024.

While Victoria has the second largest economy in the country, it had the weakest business growth of all mainland Australian states at 2.4 per cent in 2023-2024, signalling a lack of business confidence under the Allan Labor Government.

Conversely, in New South Wales, businesses grew by 2.8 per cent, with growth of 3 per cent in South Australia, 4.6 per cent in the ACT, 2.6 per cent in Queensland, and 3.5 per cent in Western Australia.