Treasurer refuses to rule out a deficit for Labor’s botched budget

Labor Treasurer Tim Pallas has today refused to rule out plunging the state’s budget into a deficit.

Speaking at a CEDA conference today, Treasurer Tim Pallas spoke about the impacts coronavirus would have on Victoria’s budget.

However, he neglected to mention:

  • The impact of Labor’s $25 billion in waste and cost blowouts

  • That the unemployment rate in Victoria at 5.4 per cent is above the national average of 5.3 per cent and well above the NSW rate of 4.5 per cent

  • Economic growth in the previous quarter is negative, and well below the national average and the growth seen in NSW

  • Victoria’s budget was already in deficit in the first quarter of 2019-20

The Treasurer had already flagged he would need to make $4 billion in cuts before the coronavirus outbreak and has to date refused to rule out cuts to education, health or the environment.

How can Victorians have any faith in Labor’s Treasurer if even he can’t explain the state of the budget?

The Andrews Labor Government can’t manage money and can’t manage projects and is misleading Victorians when it uses the cover of coronavirus to hide its inability to manage money.

Since Andrews was elected in 2014, he has introduced or increased 28 taxes which has added to the rising cost of living Victorian households face. Victoria is also now the highest taxed state in the country.

Comments attributable to Shadow Treasurer, Louise Staley:

“Victorian household budgets are already stretched and they can’t afford to be hit with any more new taxes.

“Victoria is looking at the very real prospect of a recession. Now is not the time to be taxing Victorians even more, leaving them with less to spend.

“Labor had buggered the budget long before the devastating bushfires and coronavirus. What we know about Labor is when it runs out of money it comes after yours.”

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