New Victorian Liberal leader Jess Wilson has released an initial election blueprint, promising to abolish five major taxes with a focus on “easing cost-of-living pressures and restoring the state’s finances.” She also outlined four key policy areas: state debt management, law and order, healthcare, and housing affordability.
According to Wilson’s plan, the taxes to be removed include the GP tax, the emergency services levy, the Airbnb tax, the school payroll tax, and stamp duty for first-home buyers purchasing properties under $1 million. She stressed that Victorians are facing unprecedented cost-of-living pressures, and the tax reforms would allow households to “benefit immediately.”
However, the Labor government swiftly criticised the Liberal proposal, claiming it would create a “$10.8 billion budget black hole.” Treasurer Jaclyn Symes called on Wilson to explain how she would fill a fiscal gap of up to $11.1 billion without cutting public services such as healthcare, education, transport, and housing. Premier Jacinta Allan also accused the Coalition of making cuts that would “only cause people to suffer.”
Within the Liberal Party, Wilson is being urged to take a “bold approach” to revising the budget. She has ruled out increasing taxes and listed reducing “wasteful spending” and curbing infrastructure cost blowouts as top priorities. Wilson noted that state debt is projected to reach $194 billion by 2029, and that strong measures are required to prevent further fiscal deterioration.
Victoria currently holds an AA credit rating, the lowest among all Australian states, and continues to face significant financial pressure. Whether the Liberal policy blueprint can reshape the state’s finances—and win voter confidence—remains to be seen.