In their first budget, after the Victorian Coalition blew itself apart in a single term and handed the keys to 1 Treasury Place back to Labor, then-premier Daniel Andrews and treasurer Tim Pallas were keen to position themselves as responsible economic managers.

They spoke of being fiscally disciplined, of wanting to be the party of lower taxes, of limiting net debt to 6 per cent of gross state product. They seemingly struck the right tone, despite ripping up a contract to build a road project that would eventually cost taxpayers $1 billion.