Victoria’s Treasurer Jaclyn Symes has launched a scathing attack on the state Opposition’s election promise to abolish several taxes, accusing Brad Battin’s Liberal–National Coalition of “financial recklessness” at a time when Victoria faces a historic debt of $194 billion.
Speaking in Melbourne on Monday, Symes warned that the Opposition’s plan to scrap a series of new and existing levies would leave a multi-billion-dollar gap in the state budget, threatening essential services and thousands of public sector jobs.
The Opposition has promised to eliminate the Airbnb tax, the newly introduced Emergency Services Levy, and the payroll tax for independent schools. It has also vowed to abolish stamp duty for first-home buyers purchasing properties worth up to $1 million and pledged not to introduce any new taxes if elected.
Treasury estimates suggest those measures would cost the budget more than $11 billion, money that Symes insists the Opposition cannot recoup without “savage cuts” to frontline services.
“Brad Battin started last week with a $10.8 billion black hole and ended it with $11.1 billion,” Symes said. “This is financial recklessness, plain and simple. They know they can’t pay for their plans without deep cuts — they just won’t admit it to Victorians.”
The Labor government’s latest budget confirmed state debt is expected to peak at $194 billion by 2028–29, with the new congestion levy increase due to take effect on January 1 now a key revenue measure. The levy — a tax on off-street parking in inner-city areas — will rise by 73 per cent, hitting commuters who drive to work in central Melbourne.
Government sources say Labor’s strategy will centre on warning voters that the Opposition’s policies would “cut firefighters, nurses, police, and teachers.” Finance Minister Danny Pearson reinforced that message, accusing the Liberals of “voodoo economics” reminiscent of the failed tax-cut experiment by former UK Prime Minister Liz Truss.
“The Liberals clearly haven’t learned from history,” Pearson said. “This kind of magical thinking will cost Victorians their jobs and stability.”
Brad Battin: “Taxes will be lower under a Liberals and Nationals government because we believe Victorians should keep more of the money they earn,”
But Opposition Leader Brad Battin, currently on a trade mission to China promoting Victorian investment opportunities, dismissed the criticism, saying Labor was in no position to lecture anyone on financial management.
“I won’t take lectures from a Treasurer who presides over the highest taxes and worst debt in the nation,” Battin told reporters. “Taxes will be lower under a Liberals and Nationals government because we believe Victorians should keep more of what they earn.”
Battin said his team would deliver a “responsible and credible” fiscal plan to repair the budget, reduce cost-of-living pressures, and restore Victoria’s reputation as an investment destination.
The escalating war of words comes as the Allan government struggles to manage rising costs across major infrastructure projects and public services, prompting warnings from credit agencies about potential downgrades to the state’s credit rating.
Political analysts say both sides are now trying to frame the debate ahead of next year’s state election — Labor positioning itself as the defender of public services and jobs, while the Coalition appeals to households weary of taxes and economic strain.
With Victorians facing high inflation, mortgage stress, and utility price hikes, the economic debate between Symes and Battin is shaping up as one of the defining political battles of 2026.
