Economic Recovery

ECONOMIC RECOVERY: STRENGTHENING VICTORIA’S PROSPERITY

Victoria faces significant economic challenges thanks to decades of squandered opportunities by successive state governments. Sustainable economic growth and prosperity for Victoria is at substantial risk with major productivity-enhancing infrastructure being slashed in favour of useless projects, wasteful public spending, and net government debt forecast to increase to over $187 billion by 2028.

Victoria lags behind the rest of Australia in business investment as innovators and entrepreneurs flee the state’s harsh anti-business approach. Essential services remain under-funded and under-resourced, and regional Victoria does not receive funding commensurate with its economic contribution to the state.

One Nation is committed to reducing budget deficits and state government debt, and improving transparency and accountability in government spending. We’ll expose and crack down on wasteful government spending. One Nation will work towards a vibrant, dynamic, and resilient state economy with many diverse opportunities for employment and entrepreneurship, with a focus on manufacturing, tourism, mining, education, ICT, and emerging technologies.

OUR POLICIES

Fiscal responsibility

One Nation will promote and encourage fiscal responsibility in the management of government finances by:

  • conducting a comprehensive review of government spending to identify and eliminate wasteful expenditure;
  • enhancing transparency over government spending and encouraging prudent management with an accountability tool which will track and publicly report each government department’s spending in real time; and
  • capping expenditure on high-profile vanity projects.

Promoting manufacturing

One Nation understands the economic potential of a competitive and innovative manufacturing sector, and seeks to restore Australia’s reputation as the ‘clever country’. We’ll promote manufacturing by:

  • offering incentives for manufacturing and innovation, such as grants and tax breaks – One Nation will phase out Victoria’s regressive payroll tax because it inhibits job growth;
  • reviewing other ways to reduce business costs, for example, record high energy prices; and
  • supporting targeted research and development on advanced manufacturing technologies, with an emphasis on enhancing regional competitiveness.

Wind and solar bonds

Opposition to renewable energy is increasing on the back of revelations that wind farms are causing significant environmental degradation. One Nation will address this issue by:

  • requiring all wind, solar and battery projects to commit to environmental rehabilitation bonds similar to those imposed on the mining industry, so that Victorian taxpayers aren’t left with costly rehabilitation and clean-up bills when renewables hardware reaches the end of its relatively short operating life.

Revitalising tourism in the Garden State

With our tourism industry still recovering from draconian measures implemented by Labor during the COVID-19 pandemic, One Nation seeks to revitalise the sector by:

  • investing in new, modern marketing campaigns to promote Victoria a visitor destination in domestic and international markets;
  • rehabilitating neglected tourism destinations like Gippsland;
  • investing in the development of new tourism infrastructure and experiences to complement new marketing campaigns;

Creating high tech jobs

Technological progress across the world is accelerating and presenting many economic opportunities for a state that is prepared to be bold and pursue them. One Nation will promote high tech job creation by:

  • offering incentives for high tech startups and businesses to establish themselves here, such as grants and tax breaks – One Nation will phase out the state’s regressive payroll tax; and
  • collaborating with regional universities and research institutions to ensure they connect with industry, deliver graduates with relevant, in-demand skills, and deliver research outcomes readily adopted for development by innovative businesses.

One Nation will announce further information and associated policies over the course of the election period.