Victoria’s economy is facing a crisis, with businesses shutting down at an alarming rate. High taxes, cost-of-living pressures, and poor government policies are leaving small business owners struggling to survive. On The Court of Public Opinion, Jeremy Cordeaux takes a critical look at how Labour’s leadership is impacting the Victorian economy.
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Economic Downfall: The Rising Tide of Insolvencies
At [15:25], Jeremy reports shocking figures that highlight the economic distress in Victoria:
“Victorian businesses face a 71% increase in insolvencies this year.”
With thousands of businesses forced to close, Jeremy questions why the government continues to push policies that hurt economic growth. He notes that small businesses are the backbone of any economy, and their decline signals deeper economic instability.
Government Responsibility: Is Labour Failing Victoria?
Jeremy doesn’t hold back in his criticism of Labour’s handling of the crisis. He argues that rising business costs, high taxes, and an anti-business attitude from the government have accelerated Victoria’s economic decline.
“Cost of living pressures and taxes are killing the economy.”
He points out that Labour’s policies have led to increased energy costs, red tape, and excessive regulations that make it harder for businesses to stay afloat. Jeremy suggests that instead of helping struggling businesses, the government is making survival nearly impossible.

The Impact on Everyday Victorians
Beyond business owners, ordinary Victorians are feeling the pressure of economic mismanagement. With businesses closing, job opportunities shrink, and cost-of-living pressures rise.
“When businesses shut down, families suffer. It’s not just numbers—it’s people losing their livelihoods.”
Jeremy highlights that rising unemployment, coupled with record-high rents and mortgage stress, is pushing more Victorians into financial hardship. He argues that instead of wasting money on ideological projects, the government should focus on policies that encourage business growth and economic stability.

The Role of High Taxes and Debt
Victoria’s state debt has also reached record levels, with Labour continuing to borrow heavily. Jeremy warns that these economic policies will have long-term consequences:
“At some point, the debt will have to be repaid. Guess who will be paying for it?”
He argues that reckless spending without a plan for economic recovery will leave future generations burdened with unsustainable debt.

Can Victoria Recover?
As businesses continue to close, Victoria’s economic future remains uncertain. Jeremy questions whether Labour’s leadership is capable of reversing the damage or if the state is heading toward further collapse.
“If Labour doesn’t change course, Victoria will become a warning sign for the rest of Australia.”
With businesses struggling, costs rising, and debt mounting, Jeremy calls for urgent reforms before it’s too late. Will Victoria recover, or will Labour’s policies continue to drag the state further into economic despair?