Overview of the Victorian Budget 2020-21
The 2020/21 State Budget was released on the 24 November 2020. The Government states that this is the Budget to repair, recover, and make us stronger than before. It delivers an infrastructure investment to drive the State’s recovery, with its centerpiece an ambitious Jobs Plan aimed at creating 400,000 jobs by 2025.
The Budget promises a new dawn for Victoria; one that is fueled by local businesses, skilled workers, a new wave of large and small infrastructure projects and a plexus of world-class health and education.
The combined impact of pandemic induced reductions in revenue and increases in vital expenditure has resulted in a forecast budget deficit of $23.3 billion in 2020-21, which is expected to reduce to $5.9 billion by 2023-24.
Find out what this year’s budget means for you – Read More