Victorian Labor pledges $350 million factory fund in election platform
The $350 million Make It Here Fund supports advanced manufacturing, defence, food and fibre, and health research, creating 5000 jobs.
Victorian Labor is pitching multiple business policies before the state election on 28 November. The centrepiece is the Make It Here Fund, a $350 million package.
The fund targets advanced manufacturing, defence, food and fibre, and health research. The government would give $200 million in equity co-investment and $150 million in grants.
Private sector support is required to match this funding. Labor also pledges to lift the land tax threshold back to $300,000 over six years, reversing recent changes.
Additional promises include cutting red tape for pubs and live music venues, capping weekly toll fees at $30, and waiving stamp duty for businesses restructuring due to federal tax changes.
- $350 million
- Fund size
- $200 million
- Equity co-investment
- 5,000
- Jobs target
- November 28
- Election date
Why it mattersSmall businesses face rising interest rates and inflation. Labor's policies aim to lower costs and reduce rules to keep firms operating.
Corroborated byabc.net.au
