Australian Election Tracker by OZE

Victoria 2026 · Policy comparison

Debt & Budget

State Primary

Victorian state budget balance, net debt, taxes and major expenditure priorities of the State of Victoria.

4 of 4 comparison columns contain a sourced position.

View in full matrix Who controls this policy? Methodology

How to read this comparison. The short cards show each party's recorded approach. The detailed section reproduces the sourced claims underneath. There are no scores, rankings or inferred positions. Policy cells show only positions with an individually sourced public record (manifesto, press release, Hansard, or Parliamentary Budget Office costing). An empty cell means no sourced position is in the ledger yet — not that a party has no view, and not an editorial judgement of importance.

Direct comparison

At a glance

Greens

Progressive property and bank taxes, public financing and a wellbeing budget

View detailed claims

Labor

Operating surpluses while net debt rises in dollars but falls relative to the economy

View detailed claims

Liberal–Nationals

Shared Coalition policy

Back-office hiring freeze, cash surplus by 2032 and tighter expenditure controls

View detailed claims

Sources and detail

Party positions

Greens

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Progressive property and bank taxes, public financing and a wellbeing budget

  • Costed measure

    Increase land tax to 5.3% for investors holding more than $5 million in residential investment property, with the Greens reporting $6.4 billion in revenue over a decade.

    • $6.4 billion revenue taxpayer funded
    • PBO costed
    • over a decade

    Australian Greens Victoria · published 8 July 2026 · verified 1 Aug 2026

  • Costed measure

    Apply a 0.05% levy to major banks operating in Victoria, which the Greens estimate would raise more than $1 billion a year and $16.5 billion over a decade.

    • $16.5 billion revenue taxpayer funded
    • Uncosted pledge
    • over a decade

    Australian Greens Victoria · verified 1 Aug 2026

2 more claims
  • Pledge

    Introduce a wellbeing budget that reports environmental health, equality, public services, infrastructure and community participation alongside conventional financial measures.

    Australian Greens Victoria · verified 1 Aug 2026

  • Position

    Prefer direct public financing and delivery of infrastructure, abolish public-private partnerships and bring outsourced core services back into the public sector.

    Australian Greens Victoria · verified 1 Aug 2026

Labor

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Operating surpluses while net debt rises in dollars but falls relative to the economy

  • Position

    The 2026–27 Budget forecasts an operating surplus of more than $700 million in 2025–26, $1 billion in 2026–27 and $2 billion in 2029–30.

    • Uncosted pledge
    • Mixed financing
    • 2025–26 to 2029–30

    Victorian Budget 2026/27 · published 2 May 2026 · verified 1 Aug 2026

  • Position

    Budget forecasts show net debt increasing from $165.3 billion in June 2026 to $199.3 billion in June 2030 while the Government expects debt to fall as a share of gross state product from 2026–27 onwards.

    • $199.3 billion forecast net debt in 2029–30 taxpayer funded
    • Uncosted pledge
    • Borrowing / debt financed
    • to June 2030

    Victorian Budget 2026/27 · published 2 May 2026 · verified 1 Aug 2026

1 more claim
  • Position

    Maintain positive net operating cash flows across the forward estimates, which the Budget forecasts at about $6.3 billion to $6.5 billion annually from 2026–27 through 2029–30.

    Victorian Budget 2026/27 · published 2 May 2026 · verified 1 Aug 2026

Liberal–Nationals

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Shared Coalition policy

Back-office hiring freeze, cash surplus by 2032 and tighter expenditure controls

  • Costed measure

    Freeze recruitment into back-office Victorian Public Service roles while excluding frontline teachers, nurses and police; the Coalition estimates natural attrition would save $22 billion over ten years.

    • $22 billion estimated saving taxpayer funded
    • Uncosted pledge
    • 2026–27 to 2036–37

    Liberal Victoria (joint Liberal–Nationals statement) · published 6 May 2026 · verified 1 Aug 2026

  • Pledge

    Return Victorian Public Service staffing to its population-adjusted 2014–15 level through natural attrition as part of a plan to deliver a cash surplus by 2032 and reduce debt.

    Liberal Victoria (joint Liberal–Nationals statement) · published 7 May 2026 · verified 1 Aug 2026

2 more claims
View separate Liberal and Nationals records

Liberal

Back-office hiring freeze, cash surplus by 2032 and tighter expenditure controls

  • Costed measure

    Freeze recruitment into back-office Victorian Public Service roles while excluding frontline teachers, nurses and police; the Coalition estimates natural attrition would save $22 billion over ten years.

    • $22 billion estimated saving taxpayer funded
    • Uncosted pledge
    • 2026–27 to 2036–37

    Liberal Victoria (joint Liberal–Nationals statement) · published 6 May 2026 · verified 1 Aug 2026

  • Pledge

    Return Victorian Public Service staffing to its population-adjusted 2014–15 level through natural attrition as part of a plan to deliver a cash surplus by 2032 and reduce debt.

    Liberal Victoria (joint Liberal–Nationals statement) · published 7 May 2026 · verified 1 Aug 2026

2 more claims

Nationals

Back-office hiring freeze, cash surplus by 2032 and tighter expenditure controls

  • Costed measure

    Freeze recruitment into back-office Victorian Public Service roles while excluding frontline teachers, nurses and police; the Coalition estimates natural attrition would save $22 billion over ten years.

    • $22 billion estimated saving taxpayer funded
    • Uncosted pledge
    • 2026–27 to 2036–37

    Liberal Victoria (joint Liberal–Nationals statement) · published 6 May 2026 · verified 1 Aug 2026

  • Pledge

    Return Victorian Public Service staffing to its population-adjusted 2014–15 level through natural attrition as part of a plan to deliver a cash surplus by 2032 and reduce debt.

    Liberal Victoria (joint Liberal–Nationals statement) · published 7 May 2026 · verified 1 Aug 2026

2 more claims

One Nation

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Spending review, lower debt and a phase-out of payroll tax

  • Pledge

    One Nation Victoria proposes a comprehensive review of state government spending to identify and eliminate waste, reduce budget deficits and slow the growth of state debt.

    • Uncosted pledge

    One Nation Victoria · verified 1 Aug 2026

  • Pledge

    The party would introduce a public, real-time reporting tool for departmental expenditure and cap spending on high-profile projects it regards as wasteful.

    One Nation Victoria · verified 1 Aug 2026

1 more claim
  • Pledge

    One Nation Victoria says it will phase out Victorian payroll tax while using grants and tax incentives to encourage manufacturing, technology and regional investment.

    • Uncosted pledge

    One Nation Victoria · verified 1 Aug 2026

Who controls debt & budget?

State Primary

The Victorian Treasurer and Parliament control the state budget, state taxes and state borrowings. Commonwealth grants are a large revenue source, but state debt and state spending priorities are state decisions.

Victoria
State budget, state taxes, state borrowings and interest, and major recurrent and capital programs.
Commonwealth
Commonwealth budget, GST distribution parameters, and specific-purpose payments to states.
Infrastructure & Transport Roads, public transport, major projects and freight networks within Victoria. Cost of Living Household expenses such as energy bills, rents, transport fares, food prices and state taxes and charges. Health & Hospitals Public hospitals, ambulance services and state-run health systems in Victoria.