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‘Real mess’: Investment expert explains why Victoria ranked worst business state

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The Motley Fool chief investment officer Scott Phillips has railed against the regulation riddled state of Victoria which had created a “real mess” in recent years after it was ranked the worst business state in Australia.

Victoria ranked as worst business state as Motley Fool investment expert ridicules its 'real mess' of regulation and red tape

It is the second year the BCA has undertaken this report, with Victoria ranking the lowest in the 2023 version of the report for regulatory costs and trading. The business expert said the red tape planning systems “is not necessary” as the payroll taxes and retail trading hours, as well as property taxes, business licenses and worker’s compensation, were getting in the way of doing business.

The Motley Fool investment chief said he “can’t imagine” starting a café or business in Victoria due to the different rules and regulations surrounding food. Despite a Victoria government spokesman saying the state’s economy was “strong”, having “surged by more than 30 per cent” in the past three years, Mr Black said the southern state had “more work to do”.

 

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