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Victorian Budget Delivered: Big Surplus, Capital Works, Transport Projects

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.

The Treasurer’s Budget Speech is shown below.

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Statement from Treasurer Tim Pallas.

This year’s Budget is focused on building on the new found strength of the Victorian economy to deliver the things that matter most to Victorians: hospitals, schools, jobs and transport to protect our quality of life.

The Budget funds our plans, projects and promises – because getting things done means concrete delivery, not dithering and delay.

We’re building the projects our state needs and creating thousands of jobs.

We’re supporting businesses to grow and making sure Victorians get the skills they need.

The Budget sets aside $500 million to take action family violence – our number one law and order issue.

It will deliver more new schools than ever before.

It will cut waiting times for emergency departments and elective surgeries.

It funds the road and rail projects we need to get to work and home on time.

And it recognises regional Victoria as key to our state’s economic strength.

With this Budget, regional cities can start to rival Melbourne in the race for new jobs, visitors and businesses – and that’s a good thing.

Make no mistake: our economy is strong.

Companies who want to invest in Victoria and create new jobs now know they have a government that’s on their side and the Victorian economy has a new-found confidence.

They are just some of the reasons why our state is growing faster than any other.

It’s our job to manage this growth, and make sure no Victorian misses out on the things that really matter.

It will take time and effort, but I’m proud to say that we’re getting it done.

  • Treasurer’s Message (2m)
  • Premier’s Message – Getting It Done (2m)
  • $1.1 Billion For Victorian Schools (2m)
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Malcolm Farnsworth
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