Victoria’s Labor government has delivered its first budget.
Click here for the full text of Premier Steve Bracks’s Budget Speech.
The Victorian budget projects a surplus of $592 million in the next financial year and state debt falling from $6.2 billion to $4.7 billion.
The budget establishes a $1 billion infrastructure program over the next 4 years and promises business tax cuts from July 2001.
$967 million is to be spent on schools, hospitals, transport and other community facilities.
The government claims it has delivered the bulk of its election promises. Rural and regional areas which swung heavily to Labor in last year’s election have been rewarded with a large number of spending projects.
