Property saves the Victorian Budget

Wednesday 15 October 2014

The Victorian Government has released its 2013-14 Annual Financial Report, which revealed a $2 billion surplus in 2013-14 – the largest Budget surplus recorded for the state in 15 years.

The result smashed the $935 million surplus forecast in the May budget, and was driven by the early receipt of a $1.1 billion federal grant for the East West Link road project and higher stamp duties on property transfers:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.