The Victorian Premier's Literary Awards were created by the Victorian Government with the aim of raising the profile of contemporary creative writing and Australia's publishing industry. As of 2013, it is reportedly Australia's richest literary prize with the top winner receiving A$125,000 and category winners A$25,000 each. The awards were established in 1985 by John Cain, Premier of Victoria, to mark the centenary of the births of Vance and Nettie Palmer, two of Australia's best-known writers and critics who made significant contributions to Victorian and Australian literary culture.