Victorian business support hits $3.4bn amid shrinking economy
The Victorian government has announced it has provided $3.4 billion in support to businesses and households as it forecasts its economy to contract by 5.25 per cent this calendar year.
Victorian business support hits $3.4bn amid shrinking economy
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July 24, 2020
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Modelling released by the Victorian Department of Treasury and Finance also showedtaxationand GST revenue expected to be around $8.5 billion lower over the 2019–20 and 2020–21 financial years compared with pre-pandemic forecasts as a result of lower property tax revenue, declining payroll tax and reduced GST.