Friday 15 December 2017
Budget update confirms Labor’s tax and spending blow out
Daniel Andrews is fuelling his record spend on bureaucrats and cost blow outs with record high taxes on Victorian households.
Since the election, Daniel Andrews has introduced 12 new taxes despite his promise to not introduce or increase any taxes.
Today’s mid-year budget update confirms that Labor’s tax take has surged yet again with a $1.6 billion increase compared to the budget handed down in May.
State taxes are now $22.2 billion (2017-18), compared to $18.1 billion at the 2014 election. This is an increase of $4.1 billion or 22.7%.
Property taxes are again propping up the budget. Since the budget, stamp duty is forecast to rise by $828 million while land tax is forecast to rise by $556 million.
The ballooning wage bill for public servants has jumped by $1.6 billion since the budget with a 7.3% growth this year.
Labor is now spending $23.1 billion on employee expenses; $4.6 billion more than at the election. While Victorian workers in the private sectors have endured flat wages growth, under Daniel Andrews public service wages have leapt by 25% in just three years.
Even the Auditor-General has warned that “Victorian public sector…salary rates have increased each year at a rate higher than the Victorian private sector”.
On top of all this, waste on cost blow-outs such as the $3.3 billion on level crossing removals and reckless decisions like wasting $1.3 billion on cancelling the East West Link have hurt Victoria’s finances.
Daniel Andrews’ infrastructure cost blow-outs now total in excess of $24 billion.
What you get under Labor is pretty clear: record high taxes, record waste and a soaring cost of living.