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Victoria’s Labor government warns Coalition’s tax cuts would cost $10.8 billion, citing debt and funding shortfalls.
The Victorian Labor government estimates the opposition Coalition’s proposed tax cuts would cost $10.8 billion, calling them fiscally irresponsible and warning of a budget shortfall.
The Coalition disputes the figure, claiming costs are closer to $5 billion and that reinstating the Fire Services Property Levy would offset revenue losses from scrapping levies and expanding stamp duty concessions for first-home buyers.
Labor blames pandemic-era spending and major projects like the $34.5 billion Suburban Rail Loop for Victoria’s projected $194 billion net debt by mid-2029 and rising daily interest payments near $29 million.
The rail project remains underfunded, with only $2.2 billion pledged by the federal government, and tunnelling for its first phase is set to begin in 2026.
El gobierno laborista de Victoria advierte que los recortes de impuestos de la Coalición costarían $10.8 mil millones, citando la deuda y los déficits de financiamiento.