Brumby: innovation the key in Israel and Victoria

PREMIER John Brumby, clearly in election mode, compared Victoria and Israel’s economies, saying both rely on innovation to drive growth.

Speaking at an Australia-Israel Chamber of Commerce (AICC) lunch on Tuesday, Brumby launched Victoria’s innovation blueprint, which calls for growth in information and communications technology, design and biotechnology.

Like Israel, Victoria’s economy cannot rely on natural resources, so has to look elsewhere to build wealth.

“The similarities of our economy in Victoria — an economy which is roughly the size of the Israeli economy — I think there are striking similarities,” the Premier said. “Like Israel, Victoria has chosen to look to the future, to invest in innovation, to invest in the productive capacity of our state. This work is reaping dividends with strong and sustained decade-long economic growth.”

He also spoke about the resilience the two economies have shown in the wake of the global economic downturn, boasting Victoria’s growth rate is the highest of any Australian state.

Brumby went on to address a number of election-eve voter anxieties, such as the impact of The Greens’ increasing popularity.

He squarely laid the blame for any Green success in inner-Melbourne electorates on Liberal voters.

“Many Liberal voters wouldn’t be aware that it was their vote that got Adam Bandt elected in the federal seat of Melbourne and I think many of them, as conservative voters, would be concerned that they’ve elected someone on the left of the political spectrum.”

Brumby did not entertain the idea that the major parties are alienating voters, which is forcing people to The Greens, although he added, “We’ll have a strong story to tell.

“A strong story about jobs in the inner suburbs, a strong story about how we’re working with the universities to create new jobs, particularly that young people want and deserve, a strong story about what we’re doing with social justice and social housing and a strong story in terms of how we attack climate change.”

The former treasurer admitted the future is not all smooth sailing for Victoria, nominating three major challenges that will confront the state in coming years — the rise of China and India, new technology and an ageing population.

“Where today’s challenges differ is in their complexity and interconnectability,” he said.

NAOMI LEVIN