Victorian Government takes right path on stimulus

The Victorian Government yesterday released its 2020-21 State Budget, which will see the Government embark on a massive stimulus program in a bid to support 200,000 jobs within 18 months and 400,000 by 2025.

Below are key extracts from Treasurer Tim Pallas’ speech combined with key figures from the Budget Papers:

With Victoria’s gross state product forecast to decline by 4 per cent in 2020 21, the pandemic’s economic impact is likely to be the biggest in nearly a century.