The Allan Labor Government is gambling with Victoria’s financial future, with spiralling debt and skyrocketing interest repayments putting pressure on families, businesses and essential services.
The Nationals’ Member for Northern Victoria Region Gaelle Broad said Victoria’s debt was fast approaching $200 billion, with taxpayers now paying more than $1 million every hour just to service Labor’s debt.
“We are now paying over $24 million every day in interest, and that interest bill keeps going up.
“When you waste money on interest repayments, there is less money for essential services to pay for more police, better roads, schools, health services and transport,” Ms Broad said.
“The latest State Budget delivers higher debt, higher taxes and higher interest costs, with no plan to repair the state’s finances.
“At a time when Victorian families are under pressure from rising living costs and businesses are struggling to stay afloat, Labor continues to waste billions while everyday Victorians pay the price.”
Ms Broad said the Liberals and Nationals had released a responsible 10-year plan to secure Victoria’s economic future and restore confidence in the state’s finances.
The plan includes:
- Reducing debt and lowering the interest burden;
- Lowering taxes, including payroll tax and land tax;
- Building business confidence to drive investment and jobs;
- Unlocking housing supply and reforming planning;
- Restoring energy security and reducing costs;
- Refocusing infrastructure spending on local priorities; and
- Introducing a hiring freeze on back-office roles to guarantee frontline services.
“The Liberals and Nationals will also scrap Labor’s divisive Treaty, saving taxpayers $1 billion.
“Victorians deserve a government that respects taxpayers’ money and manages the budget responsibly.
“The Liberals and Nationals are committed to fixing the budget, lowering taxes and upholding accountability and transparency in government.”
Media Contact: Linda Barrow 0484 303 764 linda.barrow@parliament.vic.gov.au
