RMIT professor of public policy David Hayward analysed the Coalition's election commitments and found a $9 billion hole. He said the plan did not add up, describing it as "all contradictory". Dr Hayward pointed to about $7 billion in tax cuts over four years, combined with a promise to return to a cash surplus in five years, as the core inconsistency. He identified $6.4 billion in spending cuts but also $3.4 billion in new spending initiatives. "There's savings, but they don't add up enough to compensate for the massive tax cuts," he said. He also warned that pausing the Suburban Rail Loop, where tunnelling is underway and $7 billion has already been spent, would blow a huge hole in the budget.
Opposition Leader Jess Wilson has promised to replace the emergency services volunteers fund with the old fire services property levy, cut land tax, remove payroll tax on private schools and remove stamp duty for first-home buyers. She said the Coalition had announced more than $24 billion worth of savings. "Only my team has a credible plan to actually see this budget repaired, to ensure we start paying down the debt in this state," she said.
Independent economist Saul Eslake said the Coalition could not achieve a cash surplus by promising tax cuts while continuing to spend. He urged Ms Wilson to "come clean" on her plans, warning that if elected she would either fail to put Victoria's finances on a sustainable trajectory or break election promises. Mr Eslake said Victoria needed a combination of spending cuts and revenue increases, but noted there was limited scope for tax increases given the state already has the highest tax burden.
The Victorian Chamber of Commerce and Industry has also called for fiscal discipline, with acting chief executive Amelia Bitsis warning the state is in a debt crisis. "Election commitments that increase spending without delivering a clear economic return will only make the challenge ahead greater," she said.