Water policy
David DAVIS (Southern Metropolitan) (12:02): (902) My question is to the Treasurer. Treasurer, the 2023–24 budget outcomes report from PAEC shows that in the 2023–24 financial year $640 million was torn from Victorian metropolitan water corporations in dividends and capital repatriations to prop up the struggling Victorian state budget. I ask, Treasurer: will more than $600 million again be taken from the metropolitan water corporations in dividends and capital repatriations to prop up the 2024–25 financial year results?
Harriet Shing interjected.
Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:03): I thank Mr Davis for his question, but I will take up the interjection of my colleague next to me in pointing out that this is a question that would be more appropriately put to the relevant minister, who is the Minister for Water. What I would also say is that you are effectively asking for information that will be revealed in next week’s budget, and I will not be drawn on matters for the budget until next Tuesday.
David DAVIS (Southern Metropolitan) (12:03): It is clear that the Treasurer will not rule out $600 million or more being taken in this financial year out of the metropolitan water corporations in repatriations and dividends. I ask, Treasurer: isn’t it a fact that the headline financial result in the forthcoming 2025–26 financial year will also be propped up by a similar amount, undermining the balance sheets of the metropolitan water corporations, putting at risk their capital programs and forcing up water rates on Victorians – an effective hidden tax on metropolitan households?
Members interjecting.
Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:04): There is quite a bit of commentary in the chamber in relation to this matter, which is an appropriate amount of commentary because it is reflecting on the type of question that Mr Davis has asked. I will refer to my answer to the substantive, that matters relating to the budget will be something that we should be discussing once the budget has been handed down next Tuesday.