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Northe Speaks In Parliament On Matters Of Public Importance

Member for Morwell Russell Northe yesterday spoke in Parliament on Victoria's strong economy and programs that support local businesses.

By Russell Northe - 14th November 2013 - Back to News

Mr Northe who was speaking on the Governments matter of public importance said "The core theme of the matter of public importance is the correlation between having a strong and stable economy and making sure that as a consequence there is job stability and jobs growth," Mr Northe said. "Standard and Poor’s in its latest assessment of the Victorian economy and government performance, has stated very strongly that the AAA stable credit rating continues, and that is very important." Mr Northe said "In the context of paying back interest on debt, the retention of a AAA credit rating is critical as the rate of interest increases for lower credit ratings as is the case for other States and Territories in Australia. "In comparison to other states and territories Victoria is doing extremely well economically," Mr Northe said. "Victoria is the only state or territory in Australia that has a AAA credit rating and stable outlook, which is fantastic." He said "From a local perspective our business community is thrilled to have the support of the Coalition Government particularly through its $15 million Latrobe Valley Industry and Infrastructure Fund (LVIIF). "This was a commitment made by the Coalition Government at the 2010 election, and it has been a great outcome for many businesses in the Latrobe Valley and the wider Gippsland region," Mr Northe said. "A number of local businesses have been successful in receiving funding through LVIIF and these same local businesses have contributed a substantial amount of their own money towards these investments.

Mr Northe raised a number of examples whereby local businesses have directly and indirectly benefited from funding and subsequent works through LVIIF. He said "The total government investment to local businesses through the $15 million Latrobe Valley Industry and Infrastructure Fund has been around $9.5 million, but the total financial leverage of projects under this program has been around $35 million. "As a consequence of that the number of jobs that have been created and retained in our region is substantial." The Latrobe Valley Industry and Employment Road Map fund is still open for businesses to apply and I encourage local businesses who are seeking to expand and grow their business to make further enquiries.

russell.northe@parliament.vic.gov.au www.russellnorthe.com.au 66 George St, Morwell VIC 3840 ph 03 5133 9088 fax 03 5133 9388

For more information you can visit www.rdv.vic.gov.au/infrastructure-programs/latrobe-valley-industry.

Media contact: Russell Northe 5133 9088

Source: http://gippsland.com/

Published by: news@gippsland.com

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