The State Budget handed down on Tuesday has highlighted the reality our communities face because of the Allan Labor Government’s financial mismanagement, with the Shepparton District missing out on critical funding and regional Victoria bearing the brunt of the government’s failure to control its debt.
The Nationals Member for Shepparton District Kim O’Keeffe said that despite the growing needs of our community, this budget has failed to allocate funding to key projects in the region, a clear consequence of Labor’s lack of financial responsibility.
Under the current Labor government, Victoria’s net debt has risen from $21.8 billion in 2014 to a projected $187.8 billion by 2028. This increase in debt, along with a tax revenue surge from $17.8 billion to a projected $45 billion, shows a trend of financial mismanagement and misplaced priorities.
“We are seeing the real impacts of this debt play out across our communities, resulting in underfunded and under-resourced education, health, housing and transport services,” Ms O’Keeffe said.
The interest payments on the state’s debt has risen to $15 million per day and is now expected to exceed $25 million by 2028. With around a day’s worth, the government could have fully funded its share of the $60 million required for the Shepparton Sports Stadium redevelopment.
“This government has prioritised wasting money on city-centric projects like the Suburban Rail Loop, which has blown out by more than $170 billion over its original budget, over the real and pressing needs of Regional Victorian communities,” Ms O’Keeffe said.
She also said that these funds should have supported other critical needs such as the completion of stage 2 of GV Health’s redevelopment and addressing the housing crisis.
“The budget contains no relief for public housing waiting lists or rental stress. Instead, households will be hit with a fire service property levy, and the municipal waste charge is expected to double. Victorians are already struggling to pay their bills, yet we see more strain placed on family budgets,” Ms O’Keeffe said.
Road maintenance funding in the 2024-25 Budget is also 16 per cent less than five years ago, while planning for the Shepparton Bypass has been delayed.
“We must see immediate attention paid to our unsafe crumbling roads, and the quality of road maintenance must be improved,” Ms O’Keeffe said.
“There’s also still an incredible amount of uncertainty around the Shepparton bypass.
“Yet again, we’re seeing more delays in the planning stages with a revised completion date of the end of this year.
Of $7.64 million allocated to planning the Shepparton bypass, $3.8 million is projected to be spent over the next financial year, following $2.2 million expected to be spent by mid-year.
“There’s still $1.6 million of unallocated funds despite the government claiming planning will be complete by the end of this year,” Ms O’Keeffe said.
“I’ve been a passionate advocate for the Shepparton Bypass alongside others in our community. We need certainty about the future of this project and action to progress this crucial infrastructure for our region.
“This is a vital project that is well overdue and is essential for our region’s productivity, safety and economic growth.
“The Allan Labor Government can’t manage money, can’t manage projects, and regional Victorians are continuing to pay the price.”
