The Victorian Chamber extends its deepest sympathies to Victoria Police and our hearts go out to the officers’ families, friends and colleagues during this difficult time.

Some of you will know Police Officers, and I encourage you to get in touch with them. They deserve our support and it was touching to see buildings in Melbourne’s skyline turn blue last night as a mark of respect.

As we’ve known from the beginning, COVID-19 is both a health and economic crisis, and modelling released this week by the Department of Treasury and Finance examines how badly Victoria’s economy has been hit during the crisis. This modelling projects Victoria’s unemployment rate could rise to 11 per cent, and job losses could peak at around 270,000 in the September quarter.

As most of us are planning what recovery may look like, we are delighted to be joined at our upcoming webinar by Small Business Commissioner, Judy O’Connell, and Master Builders Victoria CEO, Rebecca Casson, on Wednesday 29 April.

Our conversations will explain the commercial lease mechanism and how small businesses can engage with landlords, answering some of your most pressing questions live.

Taking lessons from the construction sector, we will also talk about its experience through COVID-19 and how other businesses can learn from this to bounce back when the economy restarts. If you haven’t already done so, I encourage you to visit our website and register today.

The Victorian Government’s general appropriations Bill to provide an additional $24.5 billion in emergency funding passed through Parliament yesterday.

The funding is designed to support jobs and set Victoria up to recover from the pandemic over the next two years. It will strengthen prospects for a recovery that is broadly based and enduring, provided funds are used carefully and strategically to benefit all Victorians. It is a very positive step for the State.

This week I sent a letter to Victorian Treasurer, The Hon. Tim Pallas MP, endorsing our support and recommending the funding is managed under a comprehensive plan, informed by engagement with business.

We have suggested the State Government use the emergency funding to support initiatives and reforms that preserve jobs and business viability; build sustainable, competitive capacity across the Victorian economy (including our regions); build and support innovation, build manufacturing capacity; and reduce our exposure to external shocks by diversifying our wider industry and trade base.

This debt accumulation needs to be carefully managed so we don’t compromise our fiscal position and can still deliver the infrastructure and services Victoria needs, without creating a debt that limits the State’s future economic opportunities. But we are convinced this fund could be a generational opportunity for transformation for Victoria.

I’m also delighted to advise that our State Treasurer has agreed to join me for a webinar conversation which will be available for our members. For exclusive insights from Treasurer Tim Pallas, please join us on Wednesday 6 May.

This webinar will be an open discussion on how the Coronavirus crisis has impacted Victorian business and the economy overall, what recovery is shaping up to look like and what role businesses will play in getting Victoria back on track.

I’m looking forward to this special event and we will notify all members when registrations are open.

Please enjoy your weekend.