Media Statements
Joint Statement - Over a decade of debt and deception under Labor
Joint Statement – Over a decade of debt and deception under Labor
Brad Battin, Leader of the Opposition
James Newbury, Shadow Treasurer
With the Allan Labor Government about to hand down the state budget, the Liberals and Nationals are turning the spotlight on a decade of financial mismanagement, spiralling debt, and a persistent culture of budget deception.
Jacinta Allan and her government have misled Victorians about the state’s finances year after year. Their economic plan is no plan at all – just debt, deception, and more tax.
After 10 years in office, Labor’s record speaks for itself: taxes are up, debt is out of control, and confidence in Victoria’s finances has collapsed. For too long, Labor has hidden its economic incompetence behind misleading forecasts, manipulated figures, and broken promises. Their budgets cannot be trusted – and here’s why:
- Victoria’s net debt is forecast to hit $187 billion by 2028 – a staggering $26,000 for every man, woman and child in the state.
- Interest repayments are set to soar past $25 million per day – money that should be spent on hospitals, schools and services.
- Since 2015, Labor has overspent its own budget forecasts by an average of $14 billion per year – demonstrating a complete inability to deliver on its own numbers.
- Capital spending has ballooned by 18 per cent each year, far outpacing economic growth.
- Labor has consistently used creative accounting to hide real deficits and mask the true state of the budget.
Leader of the Opposition Brad Battin said the state budget must be judged against Labor’s decade of economic failure.
“This government has maxed out Victoria’s credit card and is now relying on new and higher taxes to pay the bill,” Mr Battin said.
“Labor promised surpluses and delivered the worst debt in the country. They promised to manage the economy and instead handed us the worst cost-of-living crisis in a generation.”
“The Liberals and Nationals will restore fiscal integrity – with no new taxes, a Charter of Budget Honesty, and real reforms to fix the budget and rebuild the economy.”
Shadow Treasurer James Newbury said Labor’s financial credibility is in tatters.
“Labor is addicted to taxation because they’ve lost control of their spending and need to cover for their endless project blowouts,” Mr Newbury said.
“Labor’s budgeting isn’t just inaccurate – it’s dishonest and their figures are fake,” Mr Newbury said.
“Jacinta Allan and her government have misled Victorians about the state’s finances year after year. Their economic plan is no plan at all – just debt, deception, and more tax.”
“Families and businesses are being squeezed harder every year, while Labor continues to blow the budget with no accountability.”
Victoria cannot afford more of Labor’s budget lies. It’s time to restore truth and responsibility to the state’s finances.
Brad Battin, Leader of the Opposition
James Newbury, Shadow Treasurer