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Victorian Budget 2022/23

Treasurer Tim Pallas has handed down the 2022-23 election-year Victorian budget with some sweeteners for households, and a health splurge.

 
Following is an overview, and a list of who the winners and losers are.  Remember also that it is also an election year, so expect more spending initiatives, ones that would normally be in this budget, in September, October and November.
 

Budget highlights

 
 

Winners

  • Sick people: Thousands of new staff and infrastructure to be funded, including $333 million to hire almost 400 triple-zero workers and $124 million for more paramedics.
  • Job seekers: The budget predicts employment to grow strongly in coming years, with a record 3.5 million Victorians in work by June and record job vacancies. It means employers will pay more payroll tax, worth $6.8 billion in 2022-23.
  • Rail staff: An extra 300 people will be hired to work on the Metro Tunnel once it opens in the years ahead.
  • Commuters: Regional commuters will make use of $250 million worth of new VLocity trains and $205 million in V-Line upgrades.
  • Regional Victoria: Ballarat, Geelong, Bendigo and Gippsland will have millions spent on sports infrastructure and athlete hubs as part of a total $2.6 billion spent on preparing for the 2026 Commonwealth Games.
  • Teachers and students: Teachers will get a 90-minute cut to face-to-face teaching hours each week, giving them more time to prepare for lessons in a $779 million investment. Thirty-six special schools will be upgraded at a cost of $326 million.
  • Melbourne’s west: As previously flagged there will be a new hospital in Melton, costing up to $1 billion, although it is not yet clear when the project will be completed, as well as a $2.4 million fund to support festivals and events in the area.
  • Community safety: $342 million will be spent on 500 police officers and 50 protective service officers.
  • Family budgets: $250 rebates for every household that compares energy deals to find the best price and save money.
 

Losers

  • Motorists: Treasury expects international petrol prices to remain “elevated” well into next year, with the outlook for the longer term “uncertain”.
  • Big builders: Pallas says the state may soon need to slow the pace of its building.
  • Melbourne’s outer-north did not receive any funding to help build a massive freight terminal creating up to 20,000 jobs at Beveridge, as was sought by the Commonwealth. However, the government committed funding to Mickleham Road.
  • Regional schools: There is $581.5 million for the construction of 13 new schools, but all are in the outer suburbs of Melbourne.
  • CBD: No new money for the CBD’s recovery after last year’s $107 million investment, although growing suburbs get a $50 million funding boost.
  • Crown casino: The government intends to bring taxes on pokie winnings for Crown into line with other pubs and clubs, reaping $30 million a year.

 

 

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