Retail trade figures released by the Australian Bureau of Statistics (ABS) this week show retail spending slowing even further in Victoria.
Victoria recorded 0.1 per cent growth in monthly retail turnover, the lowest in the nation, and down further from the 0.2 per cent rise recorded in the previous month.
The ABS also confirmed that employee households are experiencing the highest cost of living increases since 1986.
Cost of living pressures are rising for Victorians and this is having an effect on spending decisions, yet instead of easing the burden, the Andrews Government is taxing Victorians more and more.
Since the Andrews Government was elected nine years ago, Victoria’s tax take is set to double, with 44 new or increased taxes introduced during that time.
The retail trade figures follow Monday’s CommSec State of the States report which shows Victoria is trailing behind Tasmania, South Australia, New South Wales and Queensland on economic performance.
Shadow Treasurer, Brad Rowswell, said the Andrews government cannot tax its way back to prosperity.
“Victorians are paying the highest taxes in Australia at $5,638 per person and the Government’s own numbers show tax revenue is set to increase by a further 14 per cent over the next three years” Mr Rowswell said.
“The forthcoming State Budget will only make things worse for Victorians, especially as the Government has refused to rule out new or increased taxes. Victorians deserve better.”
