coalition government delivers $316mil surplus

Showing labor how its done.

Monday, 14 October 2013
The Victorian Coalition Government has delivered a healthy budget surplus of $316 million for the 2012-13 financial year.

Releasing the 2012-13 Annual Financial Report for the State of Victoria today, Premier Denis Napthine and Treasurer Michael O’Brien said the final outcome demonstrated the Coalition Government’s fiscal strategy to build stronger state finances and a stronger economy was on track.

“The Coalition Government’s strong surplus of $316 million is considerably higher than the $177 million estimate at the time of the 2013-14 budget,” Dr Napthine said.

“Our surplus, combined with substantial investment in infrastructure, confirms the Coalition Government has the right strategies in place to manage the Victorian economy.”

Dr Napthine said constraining expenses growth for 2012-13 to 2.1 per cent was central to delivering a surplus higher than the revised budget estimate.

“Expenditure growth of 2.1 per cent is significantly lower than the average growth rate of 8 per cent over the decade to 2009-10 under the former State Labor Government,” Dr Napthine said.

“The Coalition Government has been able to achieve this responsible economic outcome at the same time as delivering successive record infrastructure programs, a record health budget, increased funding for schools and better services for people with disabilities.”

Mr O’Brien said the result confirmed that only a Coalition Government has the discipline to make the responsible decisions required to manage the Budget and deliver the infrastructure and services all Victorians need.

http://www.premier.vic.gov.au/media-centre/media-releases/8085-coalition-government-delivers-316-million-surplus-for-2012-13.html