Victorians continue to pay higher taxes and face a deteriorating financial position under the Labor Government according to new report released today.
The 2022/23 Financial Report has confirmed that Labor’s record debt continues to grow rapidly year on year and has reached at least $115 billion, whilst the budget deficit for 2022-23 was around $1 billion worse than anticipated.
Furthermore, total state taxation revenue was $1.9 billion greater than what was estimated in the 2022-23 State Budget, including:
- Payroll taxrevenueup$662 million.
- Land taxrevenueup $531 million.
- Stamp duty revenue on propertyup $511 million.
Shadow Treasurer, Brad Rowswell, said: “Victorians continue to be punished for the financial mismanagement of the Labor Government.
“On the back of last year’s greater than anticipated tax take, the Labor Government is still set to introduce a new Rent Tax, Holiday and Tourism Tax, Health Tax and Schools Tax.
“And in her just in her first week as Premier, Jacinta Allan has introduced two more property taxes, bringing to 52 the number of new or increased taxes under Labor since 2014.”
Shadow Minister for Finance, Jess Wilson, said: “Today’s report confirms the Labor can’t manage money. Victorians should be deeply concerned that despite taking $1.9 billion more from taxpayers last year, Labor’s deficit has worsened and their record debt continues to climb.
“Under Labor, Victoria is broke and life only gets harder for Victorians.”
