Tuesday, 14 November 2023

Economy

John PESUTTO (Hawthorn – Leader of the Opposition) (14:13): My question is to the Premier. On Friday it was revealed that Victoria’s debt skyrocketed by a staggering $24 billion, or 25 per cent, in just one year. In what financial year will Victoria’s debt actually stop increasing?

Jacinta ALLAN (Bendigo East – Premier) (14:13): I thank the Leader of the Opposition for his question, and I note that the Leader of the Opposition has clearly read some of the report that was released last Friday. Perhaps he did not get to the section of the report that cautioned against interpreting and projecting the potential annual outcome for the full year from the quarterly reports since there are a number of other measures that need to come to book. But that is okay, I am pleased to be able to provide that additional support for the Leader of the Opposition’s research team. We are working very hard, as was outlined at budget time by the Treasurer, that we are the only state or territory to have a COVID repayment plan. We have that plan in place because during the one-in-100-year pandemic we used the strength of the government’s balance sheet to support businesses.

Members interjecting.

The SPEAKER: Order! I will not tolerate interjections. Members will be removed without warning.

Interjections from gallery.

Persons escorted from gallery.

Sitting suspended 2:16 pm until 2:24 pm.

Jacinta ALLAN: Just before I resume, can I thank, on our collective behalf, the parliamentary staff who support us to have a safe and secure workplace: we appreciate their assistance for having our question time resume. I am delighted to resume question time. Before we were interrupted I recall that I was referring to the work that we have been doing, and that we outlined in the May state budget, on our COVID debt repayment plan. Of course that COVID debt repayment plan has come about as a consequence of the one-in-100-year pandemic during which we strongly supported the community – the health of the community and the wellbeing of the community, but also businesses and jobs in our community. That is the COVID debt repayment plan that we are continuing to deliver. Delivering a repayment plan –

James Newbury: On a point of order, Speaker, on relevance, the question was: when will Victoria’s debt actually stop increasing? I would ask you to bring the Premier back to that question.

The SPEAKER: The Premier was being relevant to the question that was asked.

Jacinta ALLAN: The COVID debt repayment plan is part of a fiscal strategy that was released by the Treasurer at budget time. Of course another key element of our fiscal strategy is to grow the economy and support jobs. 500,000 new jobs have been created since September 2020, during a period of time when those opposite would have preferred to let it rip, from memory – that was their approach to the pandemic. We took a more responsible approach.

Peter Walsh: On a point of order, Speaker, I think the Premier has stopped being relevant to the question, and I would ask you to bring her back to actually answering the question as to when Victoria’s debt is going to stop increasing.

The SPEAKER: A point of order is not an opportunity to repeat the question. I do ask the Premier to come back to the question.

Jacinta ALLAN: I will remind the Leader of the National Party, as I was saying earlier, that the fiscal strategy was laid out in the budget at budget time, and we are continuing to implement that strategy. I also note for completeness that the recent CommSec State of the States report on the economy had Victoria as the strongest performing economy for this reporting period.

John PESUTTO (Hawthorn – Leader of the Opposition) (14:27): Because the government cannot manage money and cannot manage major projects, Victoria’s debt is out of control and Victorians pay the highest taxes in Australia – $5074 per person. Will the Premier categorically rule out any more new or increased taxes?

Jacinta ALLAN (Bendigo East – Premier) (14:27): On the opposition’s research team assistance program that I appear to be running for question time today, I am delighted to tell the Leader of the Opposition that using the latest ABS data on overall tax, Victoria remains the second-lowest revenue state in the nation. So perhaps the leader of the opposition’s research needs to be improved somewhat. We have cut or abolished taxes and charges 63 times since coming to office, including substantial reductions to – you think that is funny? Supporting the economy is funny? That is all right. The Leader of the Opposition asked about major projects. Well, we know what the opposition’s approach to major projects is – to cut the forward pipeline of major projects and cut the jobs that rely on having a strong pipeline of projects. In transport, in health, in education and in housing of course, we are supporting jobs across our community.