Hawker Britton Occasional Papers and Media

Victorian Budget 2009

May 2009

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On Tuesday 5 May 2009, the Victorian Treasurer, John Lenders announced the 2009-10 Victorian budget. 

Victoria will spend a record $20 billion on infrastructure projects over the next four years in order to stimulate the state economy. The Treasurer has pledged to spend $7 Billion in the coming year and $4.4 annually over the next three years.

Contrary to most other states, Victoria has forecast an operating surplus of $165 million for 2009-10. This ensures Victoria will retain a AAA rating.

The highlights of the 2009 State Budget include:

In order to fund the proposed projects, state government debt is projected to rise to $31.3 billion or 10 per cent of gross state product by 2013.

Total spending is $42.2 Billion and is split into the following categories:

Education

Highlights of this year’s investment in education include:

Health

More funding for hospitals, medical staff, disease prevention and dental clinics are the main priorities of a $2.6 billion boost to Victoria’s health services in the 2009 State Budget.

Key aspects of health spending are:

Transport

The Brumby Labor Government will invest a record $3 billion to deliver new rail lines, more stations and new roads all part of the $38 billion Victorian Transport Plan.

Key public transport projects to get underway this year include:

Water

The Government has committed $2.8 billion to water projects, with water authorities spending an additional $5.3 billion.

The Budget also included an extra $42 million for concessions for water and sewerage bills for low-income earners and a further $2.4 million for a water-saving retrofit program.

Other major water projects underway across Victoria include:

For a more in depth run down on initiatives announced by the Victorian Government, please visit http://www.budget.vic.gov.au/ or contact your Hawker Britton consultant.

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