Wednesday, 23 September 2026

 Bridget VALLENCE (Evelyn) (11:10): Today I am speaking on the 2026–27 budget estimates, and I will be focusing on a couple of chapters, starting out with chapter 2. This report proves how poorly the Labor government has managed the finances in Victoria and that under the Labor government they have failed on every economic measure. At page 22 the ‘Fiscal strategy’ under Labor shows debt is soaring to near $200 billion. In Victoria debt represents nearly a quarter of the economy, at near 25 per cent. Unemployment is the highest in the country in Victoria under this Labor government, now at 5.1 per cent, much higher than what is in this report. And on taxation, this Labor government, with its soaring debt and interest bill on its debt, is taxing Victorians more – nearly $50 billion – in the middle of a cost-of-living crisis. This Labor government, in the middle of a cost-of-living crisis, has introduced or added 70 new or increased taxes and charges – that is, 70 new or increased taxes and charges hitting families, hitting renters, hitting businesses and hitting farmers – and Victorians are paying more because of Labor’s financial mismanagement and the $15 billion of Big Build corruption under Labor, and that is not even in this report.

Our plan, our promise, is no new or increased taxes. We will scrap the emergency services tax to immediately reduce costs and take pressure off local businesses so that they can grow. We will reduce stamp duty, and that is for our first home buyers, for young people, supporting young Victorians and restoring the dream of home ownership.

At page 24 of the report 2.1.2 ‘Taxation’ really shows that under Labor land tax and payroll tax are hurting Victorians. They are up under Labor. Under Labor land tax has more than quadrupled, and every extra dollar raised is pushing up rents, home prices and the cost of new housing. We will reverse Labor’s land tax hikes, saving hundreds of thousands of Victorians up to $975 a year. And the Victorian Liberals will lower payroll tax, and that will reduce costs for tens of thousands of Victorian businesses, restoring their confidence to hire more people and to help grow our economy. As Shadow Minister for Finance, I have worked with our Liberal leader and with the Shadow Treasurer. Our 10-year economic plan is about restoring confidence, about fixing the budget, about growing our economy and about bringing down the cost of living. We will be disciplined, we will be honest and we will focus on what matters – that is, delivering for Victorians, like getting the basics right, fixing potholes, recruiting thousands more police and investing in a health system that Victorians can rely on.

At page 26 of the report 2.1.3 ‘Dividends’ refers to the Transport Accident Commission. This Labor government, to put up its fake surplus, raided the TAC of $1.1 billion. That is not going to fix potholes or make roads safer for our motorists or for our motorbike riders, but Labor just raided the TAC to prop up its fake surplus. Victorians deserve a government that respects their money and puts it towards the essentials.

That is why under our Liberal plan, the Liberals will introduce a charter of budget honesty. We want to be honest with the Victorian people about how their taxpayer money is being spent. We will have a public expenditure tracker so that Victorians can see how their taxpayer dollars are being spent. We will respect their taxpayer dollars, and that is why, with our Liberal leader Jess Wilson and our Liberal team –

The ACTING SPEAKER (Daniela De Martino): Correct terms, please, member for Evelyn.

Bridget VALLENCE: has a real plan for real change, and that is exactly what Victorians are calling for. They want their economy and their finances fixed, so that we can put that money towards the essentials. Under the Liberals, we will guarantee our Victorians essential services that they need and rely on, and that is why we have to fix our economy. That is why we have to make our economy stronger, lower taxes, lower the cost of living and ease that pressure on Victorians.