Thursday, 15 May 2025

Budget 2025–26

David DAVIS (Southern Metropolitan) (12:28): My question is again for the Treasurer. Treasurer, Labor’s 2022 financial statement commits to returning to operating surpluses, delivering a $1 billion surplus in 2025–26. Will this be achieved?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:29): Mr Davis, you know what my answer is going to be in relation to this question. The budget will come out next Tuesday.

David DAVIS (Southern Metropolitan) (12:29): I thank the Treasurer for the non-answer. The same Labor financial statement confirms that capital projects will be fully offset, meaning they can be delivered ‘without increasing net debt’. Net debt in the pre-election budget update was $116 billion projected, and net debt in the 2025–26 budget update is projected to be $187.3 billion. Treasurer, will you admit that you have not delivered on your commitment to delivering your capital program without increasing net debt? Will you admit a failure on this commitment?

Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:30): Mr Davis, in relation to the aggregates, that will all be available for you to look at, to interrogate, to examine. There is the PAEC process et cetera. I am not pre-empting the outcomes that will be revealed in the budget.