Ted Baillieu, the Premier-elect of Victoria, is looking to push through the Coalition’s policies for the state before Christmas after John Brumby conceded defeat following Saturday’s election.
Industry groups have called on the new state government to act on infrastructure, planning and stamp duty to help Victorian businesses.
Financial planners set for extra regulation
Start-ups in the financial planning sector may be forced to get extra credentials in order to advise clients. Regulations proposed by the Federal Government would see financial planners report to an extra watchdog, potential threatening the survival of some of Australia’s 18,000 advisors.
Resource wages set to rocket
The mining and energy sectors are suffering from a wages blow-out due to a lack of skills, employers have warned. Planned resource projects require a further 38,000 workers but businesses are finding it tough to fill the positions, resulting in rises of up to 40%.
The Australian dollar slipped to 96.05 US cents while Europe’s credit crisis promoted a 1% drop in US stocks.