Labor loses $1bn from Victoria’s upcoming budget surplus in favour of ‘practical’ cost-of-living relief

Treasurer Jaclyn Symes says budget will prioritise frontline services and cost-of-living measures over bigger savingsAustralia news live: latest politics updatesGet our breaking news email, free app or daily news podcastThe Victorian treasurer says the state will record a surplus $1bn smaller than forecast just months ago in exchange for providing families with cost-of-living relief, as she vowed the budget won’t include any new taxes.Jaclyn Symes has announced that Tuesday’s budget will include a $600m projected operating surplus for 2025-26 – Victoria’s first since the pandemic. This figure is $1bn shy of the estimated surplus touted in December’s mid-year budget update.Sign up for Guardian Australia’s breaking news email Continue reading...

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