‘We need to cut tax’: James Newbury’s bold vision for Vic’s ‘most important job’

Incoming shadow treasurer James Newbury has outlined his bold vision to drive down the state’s huge debt and hinted at making big changes to land tax if elected — and he’s vowed to tear up plans for a statue of Dan Andrews.

Incoming shadow treasurer James Newbury has hinted at making big changes to land tax if elected to government next year, pledging an audit into the state’s dire finances and a plan to drastically cut wasteful spending.

The self-confessed tax hater, who is vying to take control of the state’s purse strings, has also promised to tear up plans to erect a statue of former premier Daniel Andrews.

In his first exclusive interview since taking on the senior portfolio, which he described as the “most important job”, the Brighton MP has outlined his bold vision to drive down the state’s record debt which is hurtling towards an eye watering $187.3bn by 2028.

New Victorian Liberal shadow treasurer James Newbury. Picture: David Caird

“Stopping debt will mean paying off debt and cutting waste. Tough decisions will need to be made so that taxpayers’ money is respected again,” he told the Herald Sun.

“We need to be prudent, of course, because this government has forgotten the golden rule of taxpayer money and that is, every dollar that is spent was first earnt through the sweat of a taxpayer.

“The other thing we have to do very, very quickly thereafter is we need to cut tax. We are just a tax collecting extravaganza. We have to do something about it.”

Mr Newbury played a key role in Brad Battin’s successful spill of John Pesutto’s leadership in the final days of last year.

After throwing his support behind Mr Battin in the days leading up to the challenge, Mr Newbury was rewarded with the treasury title, taking the reigns from Brad Rowswell, who was hit with a demotion.

In the 48 hours since being appointed to the role, Mr Newbury started forming a taskforce – titled the Getting Victoria Moving Again Advisory Committee – which he said “will ensure that our economic plans have industry led solutions”.

Mr Newbury played a key role in Brad Battin’s successful spill of John Pesutto’s leadership. Picture: Aaron Francis

Providing tax relief to cash-poor Victorians will be a key pillar of his economic plan, Mr Newbury said, but he remained coy as to exactly what’s on his agenda other than to promise “we have to cut tax”.

“I’ll give you a hint – we are looking very, very closely at the 30 new property taxes the government has implemented,” he said, making particular reference to land tax, a deeply unpopular annual charge on investment properties, holiday homes and vacant land.

“There is no doubt in my mind that land tax is now akin to highway robbery,” he added.

“It is simply an attack on homeowners. This government has taxed homeowners to the point that they are now demonised.”

Mr Newbury says we need a smaller government with lower taxes. Picture: David Caird

Mr Newbury, who worked as a group company secretary in the financial services industry for more than three years, said he envisioned a “longer term discussion” about the proportion of tax collected by state coffers.

“(There needs to be) a plan for Victorians over time (outlining) what you could reduce and when. You can’t do it all on day one because the debt is so great … but what you can do is set out a plan to make sure that tax becomes more reasonable,” he said.

“You have to make society work, that doesn’t come for free, but we need a smaller government with lower taxes. There are some taxes that unfortunately you will need to make sure we can provide the services that Victorians deserve.”

The Allan government has labelled Mr Battin’s new shadow cabinet the ‘Coalition Cuts Squad’. Picture: Ian Currie

If elected to government in November next year, Mr Newbury said his first order of business will be to commission an audit into the “true state of the books”.

“We have to do that day one,” he said.

The Allan government has lashed the appointment of Mr Battin and his new shadow cabinet, labelling them as the “Coalition Cuts Squad”.

Asked whether financial cuts were on his agenda to drive down debt, Mr Newbury conceded he would target wasteful spending.

Mr Newbury says he is ‘glad’ former treasurer Tim Pallas left. Picture: Aaron Francis

Vowing to rip up plans to build a bronze statue to honour the service of former premier Daniel Andrews, Mr Newbury declared: “Waste needs to be cut. Do we need to be spending tens of thousands of dollars on an obscene statue glorifying a waste and a failure of a government?”

In a blistering attack on former Treasurer Tim Pallas, who resigned from parliament last year, Mr Newbury said he was “glad he left”.

“You will never hear me compliment Tim Pallas … The level of damage he caused this budget is unforgivable and he should be ashamed,” he said.

And he has pledged to scrap plans for a statue of former premier Dan Andrews. Picture: Getty Images

He expanded that attack to the broader government, who regularly criticise Mr Newbury for being outspoken and agitating on both online and in the parliament.

“The government are now looking desperate and, frankly, a number of the ministers look pretty feral. They certainly don’t befit the office they hold. Their language and behaviour, I think, shows they are in trouble,” he said.

“I’ve taken this role because I want to fix this problem. Nothing would give me greater professional, and also personal reward, than having the opportunity to fix this state budget.

“We will cut waste. And there’s a lot of waste. Labor’s scare campaign is nothing more than a fake scare.”

Originally published as ‘We need to cut tax’: James Newbury’s bold vision for Vic’s ‘most important job’