Vic: Vic business applauds tax relief announcement
The Victorian Labor government has been praised by the business sector for announcinga $364 million package of tax cuts and funding initiatives.
The state's union movement also backs the pre-budget business statement, saying anybenefit to businesses will flow on to workers.
The Victorian Employers' Chamber of Commerce and Industry's chief executive NEIL COULSONsays the group got everything, plus more, than it asked for in its pre-budget submission.
The statement, Building Tomorrow's Businesses Today, includes VECCI's request to bringforward, by a year, a reduction in payroll tax from 5.45 per cent to 5.35 per cent toJuly 1.
The government's also gone a step further and announced payroll tax will be cut to5.25 per cent from July 1 next year.
Australian Retailers Association Victorian spokesman GREG PORTER says at least 200new retail jobs will be created by the payroll tax cut.
Victorian Trades Hall Council assistant secretary NATHAN NIVEN says the package aimsto attract more business to Victoria which is good for workers.
AAP RTV lmw/bp/gfr/wz/rp
KEYWORD: BUSINESS VIC REACTION (MELBOURNE)
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