Posted on 01. Sep, 2010 in Victoria

Victoria’s retail sector is the envy of the nation with a stunning 6.5 per cent growth in retail trade over the past year according to new statistics from the Australian Bureau of Statistics (ABS) released today.

The result is the best of any state, is ahead of the national result of 4 per cent and includes a massive return to Victoria’s renowned cafes, restaurants and takeaway food outlets which recorded a 19.3 per cent boom over the year.

Treasurer John Lenders said Victoria was the economic engine room of the nation with strong building approvals figures also released by the ABS today showing a jump in the value of  building approvals of 10 per cent over the past year – the best of any state and well ahead of the national result of negative 12.9 per cent.

“The Brumby Labor Government’s strong leadership is keeping our economy heading in the right direction and Victoria is generating more jobs than any other state,” Mr Lenders said.

“These figures show that there is growing confidence in the Victorian economy to keep defying the ongoing aftershocks from the Global Financial Crisis.

“Cash registers are ringing because we have created 98,300 Victorian jobs over the past year – more than any other state.”

Mr Lenders said the statistics also showed Victoria recorded the highest number of dwelling approvals in the state for the past 27 months in a row, showing the benefit of having the most generous first home buyer bonuses of any state and large amounts of land released for housing stock.

“These building approvals figures are great news for Victoria’s tradies who have been the frontline troops keeping the worst of the Global Financial Crisis from crossing the Victorian border,” Mr Lenders said.

Mr Lenders said the Brumby Labor Government had cut payroll tax by $193 million in its recent budget to help Victorian businesses capitalise on the worldwide recovery from the Global Financial Crisis as it occurs.

“Victoria’s economic successes didn’t happen by chance, they happened by choice,” Mr Lenders said.

“Now is not the time to risk Mr Baillieu who is too weak to take the tough decisions to keep our economy strong.

“Unlike Ted Baillieu we have never tried to talk Victoria into recession and are proud of our resilient, diverse economy.”

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