Victorian businesses are paying the price of Labor’s soaring energy prices with thousands of businesses fleeing the state.
Australian Bureau of Statistics (ABS) figures released today confirm Victoria has suffered the largest fall in net business registrations in the nation, with 2,971 fewer businesses registered in Victoria across the December 2023 quarter.
Industry representatives have voiced concern over the impact increasing energy prices as well as state taxes are having on the viability of starting and operating a business in Victoria.
Shadow Minister for Energy, Affordability and Security, David Davis, said: “Under Jacinta Allan, Victoria is broke. Labor can’t manage money and business is paying the price through soaring energy prices.
“Under Labor, electricity bills are on average 8 per cent higher across Australia for businesses consuming 20,000kWh per annum compared to a year ago, yet 17 per cent higher in Victoria, and gas bills on average are 12 per cent higher across Australia for businesses consuming 100GJ compared to a year ago, yet 31 per cent higher in Victoria.
“Victorian businesses are paying more for energy than they ever have before, and they know that Labor has botched the transition to renewables.”