Victorian Budget 2023/24 – Doing What Matters

This Budget builds on the Victorian Government’s record of delivering for all Victorians.

It’s a Budget that plans for hospitals and delivers the healthcare that keep us well – and it furthers our commitment to building Victoria’s mental health system.

It delivers the schools and early learning that set our kids up for success.

It delivers the well‑paid jobs and training opportunities that underpin our prosperity, and the new State Electricity Commission to help build a more sustainable future.

It delivers the services that support those in our community who need a helping hand.

And it continues to deliver on our investments in transport infrastructure that drive our state forward.

It’s also a budget that responds to our times. There has been a spike in inflation across the world, and central banks have responded by raising interest rates. Everyone with a mortgage is feeling the pinch.

During the pandemic, we used our strong balance sheet to protect household budgets and businesses. We did this to buttress our state from the worst health and economic shock our state has experienced since World War II.

But global conditions have changed, and we now must confront our situation squarely and repay the impact of the spending that kept Victoria moving during the pandemic.

That’s why this Budget includes a COVID Debt Repayment Plan.

Victoria is in a strong position to bounce back from these national and global challenges.

Our economy is performing well. The unemployment rate is below 4% as it has been for most of the past year – which hasn’t happened for nearly 50 years.

The Government’s responsible plan puts Victoria on a sustainable path to grasp the opportunities ahead.

We’re doing what matters for Victorians: creating jobs, driving economic growth, building a better future and delivering on every one of our election commitments.

Tim Pallas
Treasurer of Victoria


Doing What Matters | Victorian Budget 23/24 | Victorian Budget