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The Winners and Losers From the Victorian Budget
The budget also adds nearly $4 billion for health and $137.7 million for police as debt climbs to $175.6 billion.
On Tuesday, May 5, 2026, Victorian Treasurer Jaclyn Symes delivered the election-year budget, projecting the state's first operating surplus in seven years at $727 million.
Despite the surplus, net debt is forecast to hit $175.6 billion in 2026/27, rising to $199.3 billion by 2029/30, creating a significant fiscal challenge for the government.
Drivers can claim a 20 per cent rebate on vehicle registration costing $758.5 million, while public transport fares will be halved from June 1 through the remainder of the year.
Health services will receive $4 billion, including $1.6 billion for hospital staff and resources, while police receive $222 million and $200 million funds jail system capacity increases.
Education receives $1.6 billion for infrastructure and $2.2 billion for disability support in schools, while stamp duty concessions for off-the-plan purchases extend to contracts signed before April 21, 2027.