Members of the Labor caucus have been told to cut the number of projects they want funded for their local communities and cap them at $500,000 as Victoria’s budget belt continues to tighten.
Labor MPs have been told to halve the number of funding requests for their local communities and not seek any financial support for infrastructure projects in preparation for another difficult Victorian budget.
Net debt is expected to peak at $187.8 billion for the Victorian government by the middle of 2028 – equivalent to about one-quarter of the state economy. He said a $411 million improvement to the state’s operating balance was entirely attributed to higher grants from the Commonwealth than were expected, which were not guaranteed to repeat.
In the last budget, the Allan government sought to rein in spending by pushing back the timeline of some projects, moving a hospital precinct at Arden to Parkville and moving to a new funding structure with the state’s health services. Allan this week said the government had a track record for delivering infrastructure at the “really local level” by upgrading schools and kindergartens, green open space, dog parks and walking connections.
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