Treasurer refuses to rule out new taxes over the next four years despite doubling state debt

Treasurer Tim Pallas has refused to rule out tax hikes over the next four years, despite intending to double the state’s debt to meet Labor’s election promises.

It was announced yesterday if re-elected Labor intends to borrow a further $25 billion to fund promised projects over the next four years.

Neil Mitchell asked the Treasurer that with this enormous figure in mind, can he guarantee Victorians wouldn’t be slugged new taxes in the government’s next term.

NM: Can you unequivocally guarantee in the four years no new taxes ahead of inflation?
TP: No, Neil. Our election commitments…do not require any new taxes or charges.
NM: Hang on you’ve said no, so does that mean you can’t guarantee it?
TP: No means no Neil. Let’s be clear, I will not guarantee that the government will remain locked and loaded in terms of our capacity to manage the economy. That would be irresponsible, I’m not doing it.

“He is refusing to rule out taxes rising in the next four years,” Neil later said.

“That’s an honest thing to do.

“But it’s just unusual on election eve for a politician to admit it.”

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Shadow Treasurer Michael O’Brien meanwhile promised no new taxes.

“Absolutely yes, I can,” Mr O’Brien said.

“In fact I can promise tax cuts. The policy we released yesterday shows exactly that we can afford to deliver tax cuts and cost of living savings to Victorians and we’ll do it without blowing the debt.”

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