US EditionVictorian Budget Has Cash to Splash on Health, Transport but New Levies, Job Cuts, Rising Debt Signal Pain Ahead
- Victoria's 2025/26 budget, delivered by Treasurer Jaclyn Symes on Tuesday, allocates $11.1 billion to health and funds nine hospital projects along with crime prevention efforts.
- The budget responds to rising state debt reaching $167.6 billion this year and projected to hit $194 billion in three years, with a $3.3 billion savings target over forward estimates requiring staff cuts and efficiency.
- The government expects to cut about 1,200 full-time public service positions while tax revenue will rise to $41.7 billion amid new levies, yet protests have erupted over increased charges including a fire and emergency levy.
- Treasurer Symes stated the government aims to save money by "stripping back inefficiency," while critics warn that ballooning debt and new taxes risk harming the economy before next year’s election.
- Despite health funding recovering with $2.5 billion added, the budget suggests ongoing fiscal pressures will affect public services and debt servicing costs will rise to $10.6 billion annually in three years.
11 Articles
11 Articles
When public spending cuts precipitate a meltdown
Comment: Stand by for more blunt cuts to government agencies’ staffing and spending in Thursday’s Budget – and for potentially more of what a new Auditor-General report identifies as rushed, evidence-free, poor-practice changes to please ministers.Finance Minister Nicola Willis has made clear her second Budget will need to mirror her first in finding savings in state spending to fund new initiatives no longer covered by a reduced operating allow…
Sydney Morning Herald
Brisbane TimesPublic services face $3b cut, 1200 jobs to go, but state’s debt just keeps climbing
Treasurer Jacylyn Symes has announced her first Victorian State budget for the Allan Labor government. Victorians will pay more in tax than what the economy is growing and despite cuts to several areas, debt remains a big issue
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