Labor Reveals $1 Billion Jobs Plan

The Victorian Opposition has announced that it will launch a $1 billion fund to create 100,000 full time jobs for unemployed youth and the long-term unemployed if it wins November’s State Election.

Opposition Leader Daniel Andrews and Shadow Treasurer Tim Pallas said they would introduce three key initiatives, including the Back to Work Act – a $100 million fund to provide payroll tax relief to companies hiring unemployed youth, the long-term unemployed and retrenched workers into full time work.

The Premier’s Jobs and Investment Panel will also be introduced at a cost of $500 million. It will act as an independent body of senior business and industry leaders, providing direct advice to the Premier on the expenditure of $500 million for jobs and investment.

They said it will create 100,000 full time jobs and would be introduced during the first sitting week of the new Parliament, and that the target was to create 25,000 jobs every year over the term of the next parliament.

A Future Industries Fund will also be introduced, consisting of a $200 million investment fund to support job-creating projects in regional Victoria.

A$200 million The Regional Jobs Fund support job-creating projects in Regional Victoria would also be part of the package.

“The Liberals say we’re losing so many jobs because we’re in ‘transition’, but they have no idea what we’re transitioning to. We need a direction or else we’re in danger,” Andrews said.

“When our economy is changing and our state is in crisis, we need a Government that will step in, not step aside. We need a Government that will use everything at its disposal to get our state back to work.

“If companies hire unemployed young people or retrenched workers, they’ll get a break from payroll tax and we’ll get a boost to our economy.

“This a path for the people that the Liberals have left behind.”

Andrews said Back To Work was developed in consultation with experts in business, industry and research. It focuses on six sectors with potential for extraordinary growth, six sectors in which Victoria is ready to lead the world:

• Medical technology and pharmaceuticals

• New energy technology

• Food and fibre

• Transport, defence and construction technology

• International education

• Professional services

Pallas said unemployment was growing 12 times faster than new jobs were being created in Victoria and almost 68,000 people are currently unemployed in the state.

He said the Future Industries Fund would harness the skills of workers in Victoria.

“A Labor Government will work with the private sector to turbocharge these industries, so Victoria can lead the world and create thousands of new jobs,” Pallas said.

“Here lies a future for the generations of skilled professionals who dedicated their lives to putting Australian cars on Australian roads.”