Economists warn that Victoria has no choice but to cut spending in next week’s budget, after slugging businesses and property investors last year.
Victorian Treasurer Tim Pallas says housing is the “defining issue of our times” and the government will rein in spending that is preventing the private sector fromMr Pallas this week said the budget would have no cuts to essential services, but refused to rule out any
“Victoria has the most onerous payroll tax burden on big businesses and the most onerous stamp duty in the country, so there’s not a lot more the government can do on the revenue side without seriously putting at risk investment and employment,” Mr Eslake said. Earlier, he also confirmed that while the government was considering replacing its growth areas infrastructure contribution charge, which currently applies to seven council areas on the metropolitan fringe, with a statewide charge, it would not be rolled out in next week’s budget.
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