Victorian Election Result | Small Business Accounting

The Victorian Election Result

After a counting pre poll and postal votes in the seat of Bentleigh Labour has conceded that the Liberals have won the seat of Bentleigh giving them the required majority to form Government in Victoria.

The most interesting thing for me is the fact that in the recent Federal Election Victoria was the strongest state for Labour and now only a few short months later there was a huge swing away from labour in almost every seat. The question is what does the Victorian result mean for the Federal Government? It could mean that voters see how ineffectual the minority Government is or it could be voters have voted based on state issues alone.

So what does the result mean for Small Business in Victoria? Well from an Accounting point of view not a lot as taxes and most business rules are controlled by the federal Government in Canberra. However there are a lot of polices that are partly or completely controlled by the state Government that do affect Business in Victoria, some key areas are:

  • Infrastructure, roads, rail and ports all effect business
  • Planning and zoning decisions
  • Housing, in particular affordability

Coverage of the state election focused on more populous issues like crime, health care and education so there was not a lot of firm policy regarding these key issues to come out of the election. It will be interesting to see what the new Government has planned in these key business areas. The last time we had a Liberal government in power it was the Kennet Government, no matter your opinion of Jeff Kennet there is no doubt that key infrastructure projects started in his time underpinned a lot of the growth we have seen in Victoria over the past 10 -15 years. Fingers crossed this new Liberal Government will be as positive for our state.

If you would like to discuss what the result means for your business please call the office on 1800 556 122, or contact our small business accountants here.