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Victoria’s budget improved by $4.7 billion, cutting debt and projecting a surplus, but faced criticism over $10.9 billion in undisclosed spending.
Victoria’s 2024-25 budget shows a $4.7 billion improvement, reducing net debt to $150.9 billion and lowering debt-to-GSP to 23.7%, driven by stronger tax revenue from home sales and windfalls from the Future Fund and Homebuyer Scheme.
The state projects a surplus from 2025-26, with economic activity up 1.8% and business investment growing 1.2%.
However, $10.9 billion was spent via treasurer’s advances—used for hospitals, transport, the Grand Prix, and infrastructure—sparking criticism over transparency and accountability, with opponents calling it a “slush fund” and urging reform.
The government defends the practice as necessary for managing urgent projects.
El presupuesto de Victoria mejoró en $4.7 mil millones, reduciendo la deuda y proyectando un superávit, pero se enfrentó a críticas por $10.9 mil millones en gastos no revelados.