Wednesday, 29 October 2025

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:46): Back to my portfolio – I do this occasionally – I want to update the house and remind them about our disciplined fiscal strategy. Five years ago we laid out a strategy for the Victorian community and our economy to navigate the pandemic and emerge stronger. We used our balance sheet, as many people know, to protect lives, businesses and jobs. But what that meant was that we had to cut – we had to make sure that we had a plan to communicate –

Nick McGowan interjected.

Jaclyn SYMES: I will get to cuts in a minute, Mr McGowan. We shifted our focus to returning to surplus following this, and we have delivered three consecutive operating cash surpluses since 2022–23. Our disciplined and sensible decisions mean that in this budget we are on track to delivering an operating surplus in 2025–26, the only state on the eastern seaboard to do so. We are also on track to stabilise net debt as a share of the economy and reduce net debt as a share of the economy over the forward estimates. This is the right strategy for our times, with a firm focus on driving new economic growth across the state. We are making sure that we are maintaining revenue, reducing expenditure and delivering the essential services that Victorians need. It is a finely tuned machine, a machine that could easily be thrown out of balance by the reckless economic damage that is advocated by others out there. There are some who want to create a $10.8 billion black hole in the state budget, a black hole that can only be filled with cuts –

Members interjecting.

The PRESIDENT: Order! I cannot hear the Treasurer.

Jaclyn SYMES: cuts to schools, cuts to hospitals, cuts to police, and ripping millions of dollars from the emergency services budgets. We are focused on getting the fiscal settings right to ensure the Victorian economy is in the best position possible for a strong economy. Victoria needs a government that will responsibly manage the state budget and deliver the frontline services that matter most to Victorians.

 Georgie CROZIER (Southern Metropolitan) (12:48): I move:

That the minister’s statement be taken into consideration on the next day of meeting.

Motion agreed to.