Jess Wilson calls on Premier to set up debt-busting commission, but won’t commit to keeping it
Treasurer Jaclyn Symes has smacked down Opposition Leader Jess Wilson’s bold proposal to address the state’s debt crisis, dubbing it “the Liberals’ Cuts Commission.”
Treasurer Jaclyn Symes has smacked down Jess Wilson’s bold proposal to create a bipartisan debt-busting commission, issuing a terse statement in response, dubbing it “the Liberals’ Cuts Commission.”
It comes after Ms Wilson wrote to Jacinta Allan, calling on the Premier to set up the cross-party commission – but the new opposition leader will not commit to keeping it if she wins power next year.
Ms Symes was quick to hit back on Tuesday, rejecting the plan and accusing the Coalition of trying to cut frontline services.
“Liberals want the Labor government on board to make their cuts ideology appear less extreme,” she said.
“We will not be a part of cutting schools, cutting TAFE, cutting hospitals and cutting free fruit Friday, which is what the last Liberal cuts commission handed down.
“We will not sit with former Liberal treasurers who made those cuts, either.
“We stand with people, not cuts.”
In her first major announcement since becoming Liberals leader, Ms Wilson on Tuesday revealed that she had contacted the Premier, suggesting she set up the commission, which could be chaired by former treasurers and auditor generals.
Ms Wilson said the bipartisan panel would be critical in tackling what she described as the “single greatest challenge” facing Victoria – rising debt.
But when questioned further about the proposal by the Herald Sun, Ms Wilson’s team said the commission would be temporary and only provide advice ahead of next year’s budget, meaning she would not commit to retaining it if the Coalition won government in November 2026.
The commission would be charged with identifying policies to address soaring debt, which is set to reach $194bn by 2028-2029, and offer recommendations to reduce the debt-to-GSP – the state equivalent to GDP – ratio.
It would also have the power to call for submissions and conduct public hearings, as well as request documents, including data, from the Department of Treasury and Finance.
Comprised of an equal number of “respected former Treasurers from Labor and Coalition governments”, the body would report back to the parliament prior to next year’s state budget with recommendations on how to reel in ballooning debt in the short, medium and long term.
Ms Wilson suggested ex-premiers Steve Bracks and John Brumby, as well as outgoing Liberal MPs Michael O’Brien and Kim Wells – who are all former treasurers – could be on the Commission.
In the letter, sent ahead of her speech to leading economists at a Committee for Economic Development of Australia (CEDA) event, Ms Wilson said she was “willing to put aside party-political differences and work with the government” to set up the body, dubbed the Victorian Commission for Fiscal Responsibility.
“I am sure you agree that net debt approaching $200bn represents a crisis for our economy and for the government services that Victorians rely on,” she wrote to Ms Allan.
“By 2028-29, the government will have to spend $10bn simply servicing this debt.”
“The recommendations of the commission would then be able to support the Budget process for 2026 but also inform the policies and approach of the state government after the 2026 state election,” Ms Wilson continued.
Ms Wilson has specified that the commission would not look at making any cuts to frontline services and essential workers, including to the number of police, paramedics, doctors, nurses and teachers.
Ms Symes comments accusing the Liberals of trying to cut frontline services come as she prepares to hand down the findings of the government’s review of the public service, which is tipped to recommend the cutting of thousands of jobs.
Ms Wilson, who has hit the ground running since toppling Brad Battin in a leadership coup last week, has made it clear that wrangling debt is her number one priority.
Asked why she would not commit to retaining her proposed commission, Ms Wilson said the move was about taking urgent action now while she cooked up her own debt plan ahead of the next election.
“It’s clear that the government doesn’t have a plan to tackle Victoria’s debt crisis,” she said.
She committed to adopting any short to medium-term commitments the commission recommends if the Coalition wins government.
Asked whether she would be open to former treasurer Tim Pallas getting involved, Ms Wilson said she would have “serious concerns”.
“He has been the treasurer in recent years, and in many ways, he has overseen the debt crisis in this state under his leadership,” she said.
Following her talk with senior economists on Tuesday, Ms Wilson was welcomed with open arms as the Property Council introduced her to leading investors, developers and planners at a CBD event.
Mr Battin was originally supposed to speak at the special Q&A with the opposition leader, with Ms Wilson taking his place.
The new Liberal leader told the room her “absolute focus” was on first home buyers and building medium densification housing – apartments between four and six storeys – across metropolitan and regional Victoria, rather than Labor’s high rise suburban towers.
As she began her speech, Ms Wilson listed the huge increases in property and land taxes over the past decade, noting stamp duty revenue had jumped from $4.4bn in 2014-2015 to an expected $9.6bn this year.
“In 2014-15, land tax raised $1.75bn,” she continued.
“This year is expected to raise $6.4bn – an increase of more than three and a half times.”
The Coalition has committed to wiping stamp duty for first-home buyers on properties up to $1m and scrapping the Emergency Services and Volunteer Fund tax.
However, Ms Wilson has not pledged to remove any other major land or property tax.
She said industry figures were telling her they would invest “anywhere but Melbourne” due to the state’s ruthless taxes, prompting her to urge attendees to “come forward with ideas (and) solutions”.
“My door is open,” she said.
Originally published as Jess Wilson calls on Premier to set up debt-busting commission, but won’t commit to keeping it
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