The Andrews Labor Government is building a state where every Victorian can get a great education and secure a good job.
That begins with a strong economy.
Growing Victoria
The Victorian Budget 2018/19 builds on our state’s success, including the fastest rate of economic growth of any state in Australia.
Victoria’s economy grew by 3.3% in 2016/17, well above national economic growth of 2.0%.
These numbers matter because a strong economy means more jobs for Victorians.
More than 117,000 new jobs were created in 2016/17, the highest of any state and equivalent to more than 70% of new jobs created across Australia.
Employment in regional Victoria rose by a year average of 3.1% in 2017, the second highest rate in the nation, and since the Andrews Labor Government came to office three and a half years ago, an extra 40,000 jobs have been created across regional Victoria.
Employment across Victoria has grown by 11.4% since the Andrews Labor Government came to office. That’s 333,900 people who now have the security of a job, with almost 200,000 of these full-time.
Over the same period, 919,000 jobs were created across Australia, which means more than a third of our nations jobs growth was here in Victoria.
More people also want to live in Victoria. Our population grew by 2.3% last financial year – making Victoria the fastest growing state in the nation.
With this growth comes demand for services and pressure on our infrastructure.
That’s why we’re building the projects both big and small our state needs – and using local workers and products as we build.
Total infrastructure investment committed by this Government is expected to support the creation of over 75,000 new jobs.
Overall, government infrastructure investment is forecast to average $10.1 billion per year over the next 4 years, more than double the average of $4.9 billion a year from 2005/06 to 2014/15. It will reach a historic record high of $13.7 billion in 2018/19.
State Budget 2018-19 Graph Data
| Government Infrastructure Investment | Average 2005-06 to 2021-22 | |
|---|---|---|
| 2005-06 | 3.1 | 4.9 |
| 2006-07 | 4.4 | 4.9 |
| 2007-08 | 5 | 4.9 |
| 2008-09 | 4.5 | 4.9 |
| 2009-10 | 5.3 | 4.9 |
| 2010-11 | 5.8 | 4.9 |
| 2011-12 | 5.4 | 4.9 |
| 2012-13 | 5.4 | 4.9 |
| 2013-14 | 5.5 | 4.9 |
| 2014-15 | 4.6 | 4.9 |
| 2015-16 | 4.7 | |
| 2016-17 | 9.1 | |
| 2017-18 | 11.6 | |
| 2018-19 | 13.7 | 10.1 |
| 2019-20 | 10 | 10.1 |
| 2020-21 | 8.9 | 10.1 |
| 2021-22 | 7.6 | 10.1 |
Media release
Growing small business, investment and trade
Building local, buying local, hiring local
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