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flag Victoria’s Labor government warns Coalition’s tax cuts would cost $10.8 billion, citing debt and funding shortfalls.

flag 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. flag 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. flag 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. flag 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.

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