Here’s a concise update on the Victorian state budget with the most recent publicly available information.
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Latest public releases show the Victorian Government continuing to focus on cost-of-living relief, infrastructure investment, health care, and education, with aims to return to a balanced or positive operating balance over the forward estimates. This includes ongoing debt management and debt-to-GSP stabilization goals.[2][5]
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The 2025-26 Budget, announced in May 2025, emphasizes funding for business investment, exports support, and cultural/creative sector growth, alongside targeted employment initiatives and digital outreach for small businesses.[3][8][10]
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For context, the 2024-25 Budget highlighted no new broad-based taxes but increased some levies and duties, with notable spending on housing affordability, education, and health, and a debt path that anticipates higher interest costs in the near term.[1][7]
If you’d like, I can pull the most current official budget page and a brief week-by-week summary of key measures (tax changes, infrastructure projects, and social supports) and give you a clean bullets list with dates. I can also track any follow-up budget updates you care about (e.g., hospital funding, transport projects, or housing).[8]
Sources
The Victorian Government 2025-26 State Budget has been released.
www.dffh.vic.gov.audownwards by $548 million in 2012-13 and downwards by $599 million in 2013-14. – These revisions reflect a range of State revenue and Commonwealth funding variations, the impact of new policy decisions, as well as non-cash items such as superannuation and depreciation expenses and the one-off impact of revenue
www.dtf.vic.gov.auIn this budget, we're delivering the fourth and final step laid out four years ago. Stabilising net debt levels. And as a result of this success, we're now prepared to take a fifth step to go even further to reducing net debt as a share of our state's growing economy. Driving growth across our state has secured our economic recovery, and an economic growth statement to be released later this year will help us further grow our economy and support more Victorians into secure, well-paid jobs.
www.budget.vic.gov.auThe State Budget provides projections of Government revenue and expenditure for the following year, and outlines services to be delivered.
www.dtf.vic.gov.auVictorian State Budget 2024-25.
www.dffh.vic.gov.auPublished: 20 May 2025 The Victorian Government released the 2025-26 State Budget today. DJSIR has received funding to continue delivering impactful work that drives the Victorian economy and shapes our vibrant state. Key budget outcomes for DJSIR include: $150 million for the Victorian Investment Fund to boost business investment and expand priority sectors across the state, creating jobs and opportunities, and cementing Victoria as the place to do business. The fund will include a $50...
djsir.vic.gov.auReal cost of living help – and more investment in frontline services.
www.budget.vic.gov.auVictoria's 2024-25 Budget highlights and challenges: no new taxes, but soaring interest costs. Discover payroll tax threshold increases, phasing out of business insurance duty, and funding boosts for start-ups via LaunchVic. Dive into the implications of a $2.2 billion deficit and mounting debt. Learn how funding shifts impact education, housing, and business incentives in this landmark budget.
www.forvismazars.comThis year’s Victorian Budget seeks to provide cost-of-living support to families, while dedicating funds to improving infrastructure, healthcare and education. The Victorian Government expects to return an operating surplus by 2025-26 with net debt as a percentage of its Gross State Product (GSP) to stabilise and begin to decline by the end of the forward estimates period.
www.pwc.com.au