Victorian Treasurer Tim Pallas heads to United States and Canada to promote Victoria’s economy

Fresh off the back of a $100,000 trip to Asia and Europe, Tim Pallas is off again on a two week jaunt across the US and Canada, his 12th trip abroad since becoming treasurer.

Jetsetting Treasurer Tim Pallas is off again, for a two week jaunt across the US and Canada to promote Victoria’s economy.

Fresh off the back of a $100,000 trip to Asia and Europe – and amid mounting speculation he is soon to retire – the Treasurer said the latest trip would lure investment to Victoria.

“We’re focused on attracting investment and trade because we know how important it is for local jobs,” he said.

“Our engagement with major global trading partners like the United States and Canada is crucial for Victoria’s economic growth.

“Strengthening these relationships will benefit our state for years to come.”

As part of his two-week trip Mr Pallas will meet with key investors and government counterparts including major pension funds and ratings agencies.

Mr Pallas’ latest trip is his 12th jaunt overseas since becoming Treasurer. Picture: Diego Fedele

In a press release published on Tuesday, after Mr Pallas had already left, he said the US was Victoria’s largest source of foreign direct investment valued at $1.2bn in 2022-23.

He said Canada was an increasingly important source of foreign direct investment with two-way merchandise trade valued at $1 billion in 2022-23.

Mr Pallas said Victoria’s business investment grew by more than 13 per cent last year, the largest increase of all the states.

The trip is his 12th since becoming treasurer in 2014.

On his most recent multi-continental tour de force Mr Pallas racked up almost $100,000 visiting China, France the UK and the US.

In total taxpayers were slugged $96,366, including $51,000 on flights for Mr Pallas and his chief of staff James Wilson.

The duo also spent $20,965 on accommodation and $23,815 on other expenses as part of the 18-day junket.

Mr Pallas will meet with key investors and government counterparts including major pension funds and ratings agencies during the trip. Picture: Getty Images

In 2022 taxpayers were left with a $67,000 bill after Mr Pallas spent three-weeks in Germany, France, England and the US.

As part of stringent ministerial travel guidelines, Mr Pallas must publish a travel report within 60 days of returning to Victoria.

The report must outline the cost and purpose of the travel and any benefit of the travel to Victoria.

Opposition finance spokeswoman, Jess Wilson, called the trip into question.

“Fresh off a $100,000 taxpayer funded trip just over six months ago, Treasurer Tim Pallas is again jetsetting off to try and fend-off another credit rating downgrade for Victoria,” she said.

“Rating agencies have repeatedly warned that Victoria’s record debt and financial mismanagement is unsustainable and budget after budget the Allan Labor Government has failed to address this worsening situation.

“Despite billions of dollars in new taxes over recent years, Labor continues to spend beyond its means which is driving debt and interest repayments to record highs.

“A further credit rating downgrade will see Victoria’s $26m a day interest bill grow even further – meaning less money for desperately needed health, education, infrastructure and community safety services.”

Originally published as Victorian Treasurer Tim Pallas heads to United States and Canada to promote Victoria’s economy