Budget Update the First Step to More Jobs and Growth

23 December 2014

Treasurer Tim Pallas today released the 2014-15 Budget Update, laying the foundations for more jobs and growth and a stronger TAFE system. The Budget Update provides:

  • $40 million to support the Royal Commission into Family Violence, a landmark, Australia-first inquiry into our number one law and order issue.
  • $20 million to kick start the TAFE Rescue Fund, supporting campuses at risk of collapse and helping them build the classrooms, labs and facilities they need to grow.
  • $100 million for the Back to Work initiative, offering payroll tax relief to companies hiring unemployed youth, retrenched workers and the long term unemployed.
  • $40 million to establish Infrastructure Victoria, an independent body to advise on our biggest priorities, immune to our politics.
  • $1.5 million to reopen the Inquiry into the Hazlewood mine fire and help the people of the Latrobe Valley get the answers they deserve.

The Update also provides $166.4 million to kick start the Labor Government’s plan to create 10,000 jobs by funding the projects our state needs, including the removal of 50 of our most dangerous and congested level crossings.

The funding will allow detailed planning and early works to begin immediately on the level crossing removals and the construction of the West Gate Distributor and Melbourne Metro Rail.

By cutting TAFE, failing to invest in our industries and ignoring the projects our state needs, the previous Liberal Government drove Victoria’s unemployment rate to a record 6.8 per cent.

To cosmetically enhance the numbers in their Budget, the Liberals deliberately failed to fund new youth justice and prison beds beyond the election period, leaving behind a $166 million black hole in Victoria’s finances.

The Labor Government will fix the Liberal black hole and fund the $166 million shortfall, because the safety of our community is more important than the Liberals’ political games.

Reduced GST revenues, totalling $610 million in 2016-17 and 2017-18, have also hit Victoria’s budget bottom line, but the Treasurer says the Labor Government will fund all its commitments with no effect on debt or the surplus.

Quotes attributable to Tim Pallas, Treasurer of Victoria

“The previous Liberal Government will always be remembered for a massive rise in unemployment.”

“After four years of the Liberals, Victoria has the worst unemployment rate on the Australian mainland, and the worst in this state since Ansett collapsed more than a decade ago.”

“When the Liberals cut TAFE, they made it so much harder for young people to get a job and build a better life.”

“The Liberals deliberately left behind a $166 million black hole to help them win an election. This is shameless stuff.”

“The Labor Government isn’t wasting a single minute. We’re saving our TAFE system, removing level crossings, getting Victorians back to work and taking action on the number one law and order issue in our state.”

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Reviewed 19 August 2020

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