Victorian budget 2025-26: Jaclyn Symes declares ‘no new taxes’
Treasurer Jaclyn Symes has pledged no new taxes — echoing a famous promise by a former US President — as the Victorian government holds back funds for next year’s state election.
Hailing from Broadford, the same central Victorian town as Allens Lollies, Treasurer Jaclyn Symes was tasked with providing some sweet relief to a government that’s dealt with a fair serving of voter bitterness lately.
Her predecessor Tim Pallas spent nine years as exchequer chief to former premier Dan Andrews — from the happier years of level crossing removals and easy money to the grim slog of the coronavirus period, when governments both red and blue had to spend their way out of a recession.
Pallas had one eye on the exit at last year’s budget and it showed — his presentation had the enthusiasm of a man contemplating life without pesky questions and balance sheets.
His successor, Ms Symes, approached the task of selling the government’s numbers with greater enthusiasm than Pallas, but her task is unenviably higher than her predecessor.
Billions of covid-era debt, a tougher credit environment at home and abroad and the instability emanating out of a chaotic Washington DC mean 2025 is a fiscally frantic year compared to the relatively carefree 2015.
While some economic factors are out of the Treasurer’s control, one localised headache was right on the Spring St doorstep on budget day.
Thousands of firefighters, infuriated by the revised fire services levy, were a problem of the government’s own making.
Asked about the burning issue, Ms Symes said incongruously that “no new taxes” would burden Victorians next financial year.
It had echoes of George Bush senior’s infamous speech in the late 80s — “Read my lips: No new taxes” which the former US President certainly came to regret when election season rolled around.
And that was the underlying theme of the 2025-26 budget. Like every penultimate financial blueprint, plenty of cash is held back 18 months out from polling day — instead, keeping cash to spend in an election year when the voters are paying more attention.
That rationale is even stronger when there’s less sweets to go around.
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