The state budget will be handed down after 1pm on Tuesday. Victorians can expect new taxes and the promise of a $1b surplus within three years. Follow the blog live.
from our state politics team reported this morning that Victorians were expected to face new tax measures and lengthy infrastructure delays as a result of the 2023 budget.Deputy Premier Jacinta Allan warned on Monday that the “time had come” to start balancing the books, with the government vowing to deliver a $1 billion surplus within three years – $100 million higher than forecast in the pre-election budget. The figure is predicted to grow to $1.2 billion in the year after.
Senior government sources have confirmed Pallas’ ninth, and most difficult, budget is likely to include revenue-raising measures aimed at big businesses.infrastructure projectsOne senior government source said stalling the construction of projects would free up money to pay down debt in the short term and reduce the interest bill, which topped $1.8 billion during the final six months of 2022.
More impressively, this is his ninth state budget - he’s been to every single lock-up for a budget handed down by Treasurer Tim Pallas. He’ll be working on budget graphs and analysis with economics editor Josh Gordon. You can expect to read some of Butt’s work after the embargo is lifted at 1pm.
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