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Labor’s budget blowouts reach record highs

Labor’s fake surplus is built on the back of ripping $890 million out of the TAC at a time when the road toll is up and 253 Victorians have died on our roads this year.

Since the November election, Daniel Andrews and Tim Pallas have added an additional $12.5 billion in net debt taking the state’s net debt to $40.3 billion this year.

Labor’s projects have blown out by a further $3 billion, adding even more debt to the state’s already maxed-out credit card. This means Victoria’s debt will be $24,400 per household in three years’ time.

And it’s only going to get worse for Victorian families who can expect even more new or increased taxes. Tax revenue will increase, including an extra $129 million in stamp duty and $53 million in payroll tax.

With the cost of running government continuing to blow out, thousands of Victorian families will have an uncertain Christmas with Labor’s threat to sack people to bring down costs.

This budget update confirms that Labor can’t manage money and when Daniel Andrews runs out of money he comes after yours.

Comments attributable to Leader of the Opposition, Michael O’Brien:

“When Daniel Andrews runs out of money he slugs hard working Victorians with new and increased taxes.

“A fake surplus built on ripping $890 million out of road safety isn’t a surplus at all, it is an attack on safer roads by a Labor government that can’t manage money.”

Comments attributable to Shadow Treasurer, Louise Staley:

“This is a fake surplus by a government that can’t manage projects and certainly can’t manage money.

“Daniel Andrews expects Victorians to believe that he will rein in his reckless spending when he hasn’t been able to for the last five years and he won’t be able to now.”

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