This comprehensive paper, led by our outstanding Policy and Advocacy Team, outlines 29 strategic recommendations poised to revolutionise career services not only within Victoria but across the entire nation. It’s a significant milestone for us, receiving attention in Monday’s The Age and was also covered by radio including on ABC’s Breakfast program with Sammy J.

As part of the Chamber’s ongoing engagement with Regional Victoria, our President, Adrian Kloeden, held the VCCI Board meeting in Bendigo on Tuesday. Our thanks to the team at Bendigo Bank who were kind enough to allow us to use their Boardroom for the meeting.

You will no doubt have seen the State Government has announced its new bill to modernise WorkCover.

The Victorian Chamber has been engaged in discussions with Government for the better part of a year around the system. Quite simply, business cannot keep stumping up with increased premiums to cover the rising costs, but we all want the scheme to survive.

Change will be required to ensure the scheme is modernised to be fair, affordable and sustainable.

I met with new WorkCover interim CEO Joe Caliafiore on Monday, WorkCover Minister Danny Pearson on Wednesday and will meet with the Opposition Minister and other Shadow Ministers next week to discuss the changes.

What is clear is that the proposed changes are in line with our discussions, and we have requested more detail on the establishment of Return to Work Victoria. The Victorian Chamber will continue to engage on the revamp of the WorkCover system.

Half an hour before the “race that stops the nation” is scheduled to be the RBA announcement that could well do the same. The money on Tuesday’s Reserve Bank announcement points towards an interest rate hike on Melbourne Cup Day. An increase will impact both businesses and households, potentially influencing borrowing costs and spending patterns.

Alarmingly, data from ANZ-Roy Morgan report shows that consumer confidence decreased 3.2 points to 75 this week, equalling the longest streak at a level below the mark of 85 since 1990-91.

As we head into further economic turbulence, it is timely that former Vice-Chancellor of RMIT Professor Martin Bean CBE releases his groundbreaking book, “Toolkit for Turbulence.” This new publication presents an invaluable guide for leaders navigating the ever-evolving workplace landscape, offering practical strategies to transform challenges into opportunities.

Shifting gears, our AFLW Grand Final lunch tickets are selling fast. This year’s lunch - entitled The Playing Fields: Sport, Business and Beyond - promises to be an event filled with camaraderie and excitement as we celebrate the prowess of the AFLW and explore how the worlds of business, athletes and sports administration unite.

Moreover, stay tuned for ticket sale details for our final business lunch of the year. It’s one where we traditionally invite an inspirational female, and I’m over the moon with this year’s guest and thrilled to announce that we have the honour of hosting The Honourable Linda Dessau AC CVO, former Governor of Victoria, as our extra special guest who will engage in an intimate Q&A session with Channel Nine’s Alicia Loxley. It’s an event not to be missed!

Finally, last Friday’s Melbourne Cup Carnival launch was an absolute success, graced by the insights of trainers Annabel Neasham and Wayne Hawkes, and mediator Michael Felgate. Their anecdotes and experiences thoroughly engaged our colourful crowd of 360 guests, setting the tone for an exhilarating carnival which kicks off with Derby Day this weekend.

Good luck to the Victoria Racing Club team led by Neil Wilson and Steve Rosich for the week ahead. On Friday, Steve emphasised the scale of Melbourne’s Spring Racing Carnival as Australia’s largest economic contributing event, with more than 250,000 people across the four days generating $422 million for Victoria.

Wishing you a prosperous and rewarding week ahead. I hope you back a winner if you are off to the races, and I know many of us will be taking longer weekends. Travel safe and enjoy wherever you head to.