Victoria’s Government has promised $4.1m to the wine industry as part of its 2018/19 Budget, which was tabled in Parliament this week.
The funding forms part of the Growing Agriculture Exports, Farms and Tourism initiative, which aims to help the industry develop new products and markets and the move was widely welcomed by the state’s wine body.
Wine Victoria Chair, Ms Angie Bradbury said the industry was delighted the Victorian Government and Minister for Agriculture and Regional Development the Hon Jaala Pulford, had once again recognised the benefits of investing in the world-class potential of Victorian grape growers and winemakers.
The wine specific funding will be allocated towards:
- Round three of the Wine Growth Fund;
- Implementation of actions identified in the Victorian Wine Industry Development Strategy, and
- The Tackling Phylloxera Program.
“The programs clearly signify the government’s recognition of the $7.6 billion contribution that our industry makes to Victoria’s bottom line every year,” Bradbury said.
“We look forward to working with the government on implementing these important projects.”
In addition to wine specific funding, the budget also makes allocations for the following programs impacting winemakers and growers:
- The young farmer stamp duty-free threshold on properties valued up to $600,000 (for settlements from 1 July 2018);
- Further reduction to the payroll tax for businesses located in regional Victoria, decreasing the tax from 3.65 per cent down to 2.45 per cent;
- Boosting regional tourism, with $51.1m for international and interstate tourism campaigns, including support for Business Events Victoria and regional tourism boards; and
- The $30m Pick My Project fund.