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Andrews Government hands down second Victorian budget

MML

The Andrews Government has committed to fund Melbourne Metro Rail in full, as part of its second state budget focused on infrastructure and jobs.

The government had been hoping the Federal Government would contribute to the $10.9 billion project.

But Treasurer Tim Pallas says the project cannot wait for the Commonwealth to get on board.

‘This is not about politics, it’s about getting stuff done,’ he said.

The budget forecasts an operating surplus of $2.9 billion for the 2016-17 financial year.

Stamp duty revenue exceeded expectations, with 23% growth last financial year.

But the budget predicts that revenue will fall due to a reduction in transactions.

Those who received traffic or other police fines contributed $757m to state coffers.

Unemployed is forecast to drop from 5.7% to 5.5% over the forward estimates.

Net debt is also expected to fall from 5.9 to 4.8% over 4 years, but the government has foreshadowed increasing borrowings to pay for projects.

Opposition leader Matthew Guy was asked by Tom Elliott what he likes about the budget, he said – ‘we need to get on with the metro rail.’

Click PLAY below to hear Matthew Guy’s hits and misses on the budget

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