Victoria’s economy is strong and growing. But national and global cost of living pressures are still hurting Victorian families.
They’re seeing it in their grocery shops and when trying to pay the bills. They’re feeling it when they send the kids off to school, or visit a GP.
As a Government, we’re on their side.
And it’s why with this Budget, we’re delivering real help with the cost of living.
That means making public transport free for kids and teens, saving families up to $755 a year – per child.
We’re making it cheaper and easier to get access to care – including enabling pharmacists to treat more Victorians and more conditions – for free.
We’re delivering a $100 Power Saving Bonus to help those who need it most.
We’re helping households install heat pumps and solar hot water systems to save thousands on their energy bills.
And we’re helping those who are doing it hardest, with more support for food relief.
We’re also investing more in the frontline services we know matter most to Victorian families.
That includes funding to open and operationalise 9 new or expanded hospitals – including at Footscray, Frankston and Maryborough – delivering the world-class care local communities deserve.
We’re adding new train services with the opening of the Metro Tunnel, giving Victorians more ways to move with more frequent, reliable journeys across the network.
We’re fixing the roads that local drivers rely on – in suburbs and regional communities across our state.
We’re building and improving kids’ classrooms and supporting the important learning that happens inside them.
We’re investing to strengthen our justice system and keep communities safe.
And we’re helping more Victorians into their own home.
We’ve been able to deliver these investments – because of our responsible approach, and by focusing on what matters most to Victorians.
This Budget is delivering
A record $2.3 billion to deliver new and expanded cost of living help for working people and their families, including:
- $320 million to make public transport free for Victorians under 18 every day, and for seniors every weekend across our state.
- $18 million to enable pharmacists to treat more Victorians and more conditions, saving them the money and time of a GP visit.
- $50 million to deliver a new $100 Power Saving Bonus for Victorians who need it most.
- $859 million to continue Free Kinder, saving families up to $2,600 a year – per child – on fees.
- $152 million to increase support for families to pay for camps, sports and excursions.
- $15 million to deliver more than 65,000 extra Get Active Kids vouchers from 2025-26, helping even more families with the costs of kids’ sport.
- $18 million in food relief to support those doing it toughest.
- Almost $900 million in further new cost of living relief.
At the same time, we’re investing even more in the frontline services that matter to Victorians:
- An extra $11.1 billion to make sure Victorians can rely on great healthcare, including opening and operationalising 9 new or expanded hospitals, including the new Footscray Hospital, and redeveloped Frankston and Maryborough and District Hospitals.
- $727 million to switch on the Metro Tunnel, delivering more services for the Sunbury, Cranbourne and Pakenham Lines, as well as an additional $99 million to deliver even more services across the network.
- $976 million to fix and resurface our roads in 2025-26 alone, through a Better Roads Blitz.
- $4.1 billion for the new Sunshine Station Transport Superhub, in partnership with the Commonwealth Government – the essential first step in delivering Airport Rail.
- $2.7 billion to give our kids a great education, including building new classrooms and supporting our teachers.
- $1.6 billion to strengthen our justice system and keep communities safe, including $727 million to back in our new tough bail laws.
A responsible Budget defined by responsible decisions
We can deliver these investments because of our responsible approach to financial management.
It’s this approach that also means that – for the first time since before the pandemic – this Budget will deliver an operating surplus in the budget year.
It will also see net debt on track to fall as a share of the economy.
We first charted a course 3 budgets ago to return to an operating surplus from 2025-26.
This year we deliver on that plan.
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