Opposition’s pledge to cut taxes labelled reckless by Treasurer Jaclyn Symes

Treasurer Jaclyn Symes has slammed the Opposition’s plan to scrap taxes if it wins the next election, labelling Brad Battin’s plan “financial recklessness” as the Allan government hurtles towards a record $194bn in debt.

Treasurer Jaclyn Symes has taken aim at the Opposition’s spending commitments. Picture: NewsWire/Ian Currie

Treasurer Jaclyn Symes has accused the Coalition of being financially reckless, as she presides over an economy hurtling towards $194bn in record debt.

As she works to rein in spending and protect the state’s perilous credit rating, Ms Symes has again taken aim at Opposition commitments to scrap a series of taxes if elected to government.

Opposition Leader Brad Battin has sharpened his messaging around his fiscal plan in recent weeks in an attempt to neutralise criticism he is too crime focused.

Opposition Leader Brad Battin would cut taxes if the Liberal Party won the next election. Picture: Ian Currie

The Opposition has committed to scrapping the Airbnb tax, the new Emergency Services Levy and a payroll tax for schools.

They have also promised to abolish stamp duty for first home buyers spending $1m or less and have committed to introducing no new taxes or charges.

It has prompted government accusations that the commitments would leave a $10.8bn black hole in the state’s budget.

Ms Symes — who in her first budget this year confirmed Victorian debt was on track to peak at $194bn by 2028-29 — said on Monday that figure had grown to $11.1bn amid the Coalition’s opposition to a congestion levy increase set to take affect from January 1.

The Victorian Treasurer said Victoria’s debt was on track to peak at $194bn. Picture: David Crosling

The tax will hit motorists who commute to work and park in off-street paid parking, with the levy – a tax on car parks in the inner city – to increase 73 per cent in inner city areas.

“Brad Battin started last week with a $10.8 billion-dollar black hole, and he’s ended it with a $11.1 billion-dollar black hole,” Ms Symes said.

“This is financial recklessness, plain and simple. They know they can’t pay for their plans without savage cuts and they just don’t want to admit it to Victorians.”

The government has insisted the Coalition’s unfunded policy commitments would see thousands of firefighters, police, nurses and teachers out of a job.

Government sources said the scare campaign would focus on the threats of wide scale cuts.

It would also attempt to wedge shadow treasurer Ms Wilson as pro-business and anti-worker.

Finance minister Danny Pearson accused the Opposition of playing “voodoo economics.”

Danny Pearson claims the Opposition would cut Victorian jobs. Picture: David Crosling

“The Liberals clearly haven’t learned from recent history, Liz Truss tried the same brand of voodoo economics, and it ended in economic disaster for Britain,” he said.

“The Liberal Party is divided and instead of doing the real policy work needed to govern they will cut Victorian jobs instead.”

Mr Battin — who is currently on a trade mission to China to discuss investment opportunities in Victoria across the public and private sectors — said he wouldn’t “take lectures about money from the state Treasurer who is responsible for the highest taxes in Australia and also the worst debt.”

“Taxes will be lower under a Liberals and Nationals government because we believe Victorians should keep more of the money they earn,” he said.

“Labor is addicted to new and higher taxes because they can’t manage money and you’re paying the price.

“The Coalition will put forward a responsible and credible economic plan to repair the budget, pay down Labor’s debt, reduce cost of living pressures and restore Victoria’s place as an investment destination.”