Hint at budget 'surprises' as debt pile to be laid bare
Victorian Treasurer Jaclyn Symes will deliver her first state budget on Tuesday after replacing Tim Pallas in the role less than six months ago.
She has already leaked out several key fiscal details, including a $1 billion reduction to the forecast operating surplus next financial year and no new taxes.
Net debt will stay below $200 billion over the next four years and peak as a share of the economy in 2026/27.
But just how high it grows will remain a mystery until Ms Symes takes her feet to give her maiden budget address.
"We've got the balance right," she told reporters on Monday.
"Can you please everyone? No you can't, and that's tough. We have had to make tough decisions.
"But you'll see in tomorrow's budget the focus in what most Victorians expect from a Labor government."
The Allan government has already unveiled $727 million to "operationalise" the Metro Tunnel, $61 million to slash stamp duty for off-the-plan apartments, units and townhouses for another 12 months and a $976 million "Better Roads Blitz".
Another $318 million has been earmarked over four years for children under 18 to travel free on public transport, saving families up to $755 a year per child.
Ms Symes signalled more cost-of-living support could be on the way for cash-strapped Victorians.
"There's more surprises still to come," she said.
But her budget speech could be overshadowed by farmers and volunteer firefighters swarming the steps of parliament on Tuesday to protest a recently passed emergency services levy.
The expanded levy was announced in December and originally forecast to raise an extra $2.14 billion over the next three years to cover more emergency and disaster bodies.
It prompted backlash but passed parliament after the government compromised on rebates for emergency volunteers and a slightly decreased levy rate for farmers.
Public servants are also in the firing line, with thousands to lose their jobs as the government tries to rein in its ballooning wages bill.
Ms Symes said infrastructure spending will continue to taper off following the completion of the Metro and West Gate tunnels and hospitals in Frankston and Footscray in 2025.
Monash University economics lecturer Zac Gross was skeptical of that claim given construction was set to ramp up on the first stage of the $34.5 billion Suburban Rail Loop.
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