Victorian Treasurer Jaclyn Symes delivered her first budget, pledging targeted cost-of-living relief and a responsible fiscal approach, including a return to surplus for the first time since 2020.
The budget prioritizes investments in health, education, and community safety, with Symes emphasizing no new taxes and a focus on what “matters most to Victorians.” The surplus stands at $600 million—$900 million short of earlier forecasts.
Winners:
Concession Card Holders: A $100 power-saving bonus will be provided through a $50 million allocation, while seniors over 60 will enjoy free weekend public transport from January 2026.
Families: Public transport will be free for children under 18, saving families up to $755 per child annually. Free kindergarten continues, and over $150 million will go toward school activities, along with new and upgraded schools across Melbourne.
Health Sector: A record $31 billion investment includes nine hospital projects, with new facilities in Footscray and Frankston nearing completion. Mental health gets nearly $500 million, including 100 new inpatient beds and a new youth mental health service in Parkville.
Pharmacy Access: $18 million will support free pharmacist consultations for a range of minor conditions, with services expected to expand.
Community Safety: Nearly $730 million will fund 1,000 new prison beds, and hiring incentives for 720 justice workers. $13 million will implement Australia’s first machete ban.
Food Relief: $18 million will bolster food relief across Victoria, especially in regional areas.
Losers:
General Public (Non-Concession): Cost-of-living relief is limited, with targeted support for families and concession holders. Renters and low-income earners without children receive minimal new assistance.
Taxpayers: Land tax revenue is projected to reach $7.6 billion, with the fire services levy set to raise an additional $1.6 billion, hitting farmers and landowners.
Public Sector: A $3.2 billion reduction will lead to at least 1,200 job cuts, potentially rising to 3,000, despite continued recruitment in critical sectors like child protection and youth justice.
Major Projects: 1 in 3 state infrastructure projects have faced delays, including high-cost undertakings. However, the Metro Tunnel and West Gate Tunnel are on track to open by the end of 2025.
