State budget 2020: Your five-minute easy guide on how it will affect you

Here are the basics you should know about the 2020 state budget — and how it will affect you.

$346bn expected spending over next four years, including $50bn in new initiatives

$346bn expected spending over next four years, including $50bn in new initiatives

$134bn committed to state infrastructure projects under way or planned

22% expected explosion in cost of public sector, up to $33bn by 2023/24

DEBT/ ECONOMY

$154.8bn net debt by 2023/24, triple the current level and equivalent of 28.9 per cent of the size of state’s economy

$23.3bn state budget deficit for 2020/21, but government is betting on massive growth in 2021/22 – and the avoidance of a third wave of COVID-19 – to reduce its deficit to $5.9bn by 2023/24

4% economic decline this year, with a growth rebound of 7.75% predicted in 2021/22

HEALTH

40,000 additional operations planned in next year in a $300m post-COVID-19 elective surgery blitz

$10m committed to planning multi-billion dollar Royal Melbourne Hospital redevelopment, plus new campuses of RMH and Royal Women’s Hospital in Arden St Urban Renewal Precinct

10 new community hospitals planned for growth areas including Cranbourne, Pakenham, Torquay, Whittlesea, Point Cook and the inner south

Artists render of the new Royal Melbourne Hospital entrance.

JOBS RECOVERY

400,000 jobs to be created by 2025, including 200,000 by 2022

$250m in wage subsidies to small businesses, including $150m dedicated to getting women back to work, particularly those aged over 45

10 cent credits for every dollar a small business charged payroll tax spends increasing their wages bill by rehiring staff, restoring hours or creating new jobs, saving them $836m over two years

TRANSPORT

100 new trams costing $1.5bn

$2.2bn to kickstart Suburban Rail Loop

$2bn for Geelong fast rail project

$660m on Shepparton and Warrnambool rail line upgrades

A $2.2 billion cash injection to the Suburban Rail Loop.

MONEY FOR YOUR HOME

50% stamp duty waiver for new build properties valued at less than $1 million, up to $27,500, and a 25 per cent saving, up to $13,750, for existing properties

$500m Victorian Homebuyer Fund to help provide equity to reduce home deposits, with the intention of encouraging people to buy sooner

5000-plus new homes to be encouraged through 50 per cent land tax discount for built to rent developments

Homebuyers score a victory with cuts to stamp duty.

POWER RELIEF

$250 one-off payment for households with concession card holders, including Jobseeker recipients and pensioners, to cover cost of electricity bills

50,000 homes to receive solar power and battery rebates that have been brought forward, costing $191 million

250,000 low-income households to have access to $335 million in payments to replace old heaters with more efficient systems

MENTAL HEALTH

120 additional acute mental health beds in Geelong, Epping, Sunshine and Melbourne

$152m to meet mental health impacts of COVID-19

$235m for new jobs in mental health, family violence and child protection sectors

ATTRACTIONS

$1.5b for new National Gallery of Victoria contemporary arts building

$23m Wilsons Promontory visitors centre

$84m upgrade to Werribee Zoo to host Asian elephant herd

$47.5m for Great Ocean Road improvements including walking trail from Fairhaven to Skenes Creek

$52m to upgrade metro and regional parks including Albert Park, Brimbank Park and Dandenong Ranges

NGV director Tony Ellwood will get $1.5b for a new contemporary arts building.

EDUCATION

$1.9bn in a massive school infrastructure blitz, upgrading 162 campuses

$107m for Chisholm Institute and Melbourne Polytechnic and four new course added to Free TAFE

$38m to expand early childhood services and make them more inclusive

$1.6bn for school disability support

$774m for early childhood education, including free Kinder in 2021

$250m for tutors for one in five students

Paul and Kate Dimond with their daughter Bella, 4, celebrate money for free kinder in 2021. Picture: Alex Coppel.

LAW AND ORDER

$272m for new Wyndham Court headquarters, to be integrated with police station to create a justice precinct

$27.2m to expand Independent Broad-based Anti-corruption Commission

$15m to move as many Magistrates’ court and VCAT hearings online, to cut backlog

$15m to target speeding drivers

SPORT

$40m for stage five of Kardinia Park

$36.6m to upgrade Whitten Oval

$15.5m to upgrade Richmond Football Club facilities

Punt Road Oval will get a $15m upgrade of their facilities.

ENVIRONMENT

$655m to protect vulnerable wilderness and restore environment after bushfires

$224m to improve health of rivers, creeks and other waterways

$92.3m program to restore land and plant four million trees across 600,000ha

TOURISM RECOVERY

$150m regional tourism investment fund to focus on arts and culture, food, wine

$58m to market Victoria to local and interstate travellers

120,000 vouchers of $200 for holiday-makers visiting regional Victoria to help with accommodation and other costs

TAXES, FEES AND FINES

11.3% drop in state tax revenue, expected to record a massive bounce back by 2021-21 and grow by almost $7 billion by 2023-24

3.9% average annual increase in income from motor vehicle taxes. A freeze on rego payments will not continue next year

$911m in fine revenue by 2021/22, with income from speed cameras, toll road evasion and on-the-spot fines $172m lower in 2019/20 than forecast because of the pandemic