Victoria’s record taxes are driving businesses out of the state and deterring new business start-ups.
New analysis of data from the Australian Bureau of Statistics (ABS) confirms the number of business start-ups in Victoria trails every state and territory, while business closures have accelerated.
During 2023, more than 129,000 businesses closed in Victoria.
These new figures come as industry experts continue to warn about the difficult conditions to open and operate a business in Victoria compared to other states.
Shadow Treasurer, Brad Rowswell, said: “Victorians who dip their hand into their own pocket to start their own business simply don’t trust that their punt will pay off under the Allan Labor government. And who could blame them?
“Labor is addicted to taxes, with more than 53 new or increased taxes introduced since they came to power, and Victorians are paying the price.”
Shadow Minister for Small Business, Cindy McLeish, said: “On a range of key metrics, Victoria is lagging because Labor doesn’t understand the importance of small businesses to provide jobs, opportunity and investment in our state.
“Labor can’t manage money, which is why it keeps increasing taxes, making Victoria a difficult place to start and operate a business. Labor is driving business from Victoria.”
