The Victorian Treasurer, Tim Pallas, has delivered the State Budget for 2016-17.
The Budget has a surplus of $2.9 billion, with surpluses averaging $2.1 billion a year over the forward estimates. Net debt is forecast to gall from 5.9% of GSP this year to 4.8% by June 2020.
The Budget includes capital funding – “the most..ever” – for new and upgraded schools, and for road and rail projects. There is up to $12.4 billion in new capital investment, and an average of $7.4 billion a year t0 2020.
The Budget allocates $572 million for action on family violence. [Read more…]