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.
