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No new taxes to fund Labor poll promises

Two days out from the Victorian election, Labor has declared it will fund billions of dollars in campaign promises without resorting to new taxes.

November 24, 2022
By Callum Godde
24 November 2022

Victorian Labor has ruled out funding its election campaign commitments by introducing any new taxes.

Treasurer Tim Pallas released Labor’s financial statement at the Australian Nursing and Midwifery Federation in Melbourne on Thursday, two days out from polling day.

It shows Labor now forecasts posting a budget surplus of $1 billion for the 2025/26 financial year – $135 million higher than the pre-election budget update.

“Labor’s election commitments are fully funded without privatisation, increasing net debt or introducing new taxes,” Mr Pallas said.

Labor will spend $1.6 billion on jobs, $4 billion on health, $2 billion on transport and $934 million on education initiatives, according to the statement.

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