Donald Trump’s war in the Middle East is resulting in higher prices at the fuel pump, putting Victorians under more pressure. This comes as the Reserve Bank is increasing interest rates due to re-emerging national inflationary pressures.
This Budget acknowledges the real challenges Victorians are facing.
That’s why we’re easing cost of living pressures where we can with real help, right now.
We’ve already delivered instant relief with 2 months of free public transport and 3 months of fuel excise reduction.
Now we’re slashing the cost of catching a train and driving your car.
This Budget is cutting the cost of vehicle registration in 2025-26 by 20% – giving Victorians money back in their pockets, with a rebate of up to $186 per car.
We’re making public transport half price until the end of the year. We’re continuing to help families meet rising costs with free public transport for under 18s, free dental check-ups in schools and an expanded Glasses for Kids program.
And we’re giving busy Victorians time back in their day with more public transport and better roads.
Victorians that are doing it tough need affordable healthcare, great education for their kids and safe communities to live and work in.
That’s why this Budget is:
- Making healthcare easier to get by opening a new community hospital and supporting services at 3 others, and providing young families with better paediatric and maternity services.
- Investing in our kids’ future by continuing to fund kinder and building schools for a great education closer to home.
- Keeping communities safe with increased resources for Victoria Police and more PSOs, delivering serious consequences for violent crime, and boosting the Violence Reduction Unit to stop crime before it starts.
As Treasurer, I know families are watching every dollar they spend right now and expect the Government to do the same.
We have a fiscal plan and it’s working.
This Budget confirms a budget surplus of more than $700 million for 2025-26 and maintains operating surpluses over the forward estimates.
And from 2026-27, net debt as a share of the economy is projected to fall.
Our Budget backs a growing and dynamic economy
In the last 6 years, business investment is up 44%, with 123,000 new businesses opening in Victoria and more than 646,000 jobs created.
And amid global economic challenges and unrest, the Victorian economy will continue to grow.
That growth will be supported by the rapid rise of cutting-edge technologies creating new solutions to old ways of working.
That’s why we’re future-proofing Victoria by investing in the industries of tomorrow and skilling up workers for the right jobs.
We’re growing the economy, while making life easier, safer and more affordable for Victorians.
Jaclyn Symes MP
Treasurer
Minister for Industrial Relations
Minister for Development Victoria and Precincts
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