The Andrews Labor Government has pushed dreams of home ownership further out of reach. A new property tax is at the centre of a brutal budget of higher taxes, fewer jobs and cuts to services.
Labor’s new $1 billion tax on property will flow directly through to higher rents, while no stamp duty relief is provided for young Victorians sacrificing so much to purchase their first home.
This brutal budget also confirms that Victoria’s public sector wages bill will continue to grow from $35.3 billion in 2023-24 to $38.3 billion in 2026-27, despite 4,000 jobs being axed across the public service.
In a desperate attempt to prop up the budget bottom line, billions of dollars will continue to be ripped out of frontline Victorian Government agencies, including the Transport Accident Commission.
Shadow Minister for Finance, Jess Wilson, said under Labor, Victoria is broke, life is getting harder and Victorians are being punished for the Government’s incompetence.
“At a time when Victorian households, businesses, workers and home buyers are needing support and cost of living relief, they are instead getting a brutal budget of job cuts, higher taxes and cuts to services,” Ms Wilson said.
“A new property tax means higher rents at a time households are already under enormous cost of living pressures.”
