Some small businesses are having a hard time in a city with high costs of living, and with the Port of Melbourne set to increase rent rates, it’s going to be more difficult trying to make ends meet. The major price hike – which would be a result of the port’s privatisation – is an estimated 800% change in the current rates.
A majority of (if not all) local exporters would be suffering a huge blow to their overheads. Some shippers might even be forced to switch to another port just to save on costs, even if they would have to sacrifice some parts of their business and resources, which puts some jobs at risk. Experts predict that the change could be severely felt by the Victorian government and its people.