The 2024–25 Victorian State Budget handed down on Tuesday by Treasurer Jaclyn Symes, won’t set the headlines on fire, yet says something subtly powerful – this is a government choosing discipline over drama.
There are no sugar hits. No big spending sprees. No frantic promises. But behind the numbers, there’s something familiar—to those of us who grew up in Greek homes. This budget feels like home. The kind of home where every dollar is considered, every expense weighed, and every choice made with future generations in mind.
Growing up Greek: Budgets as values, not just numbers
Most of us, if not all grew up in Greek homes where budgeting wasn’t just about money—it was about meaning. Our families didn’t need spreadsheets to understand sacrifice. They understood that a good budget reflected priorities, keep the family secure, invest in your children, and never spend more than you earn.
Whether they were first-generation migrants working double shifts or grandparents still helping pay for their grandchildren’s schooling, our families saw budgeting as an act of care. It meant saving for a future you might not live to enjoy—but your family would.
This Victorian Budget, perhaps reflects that same ethos.
Surplus without fanfare: A pragmatic path forward
Symes has forecast a $600 million surplus in 2025–26—the first since before the pandemic. That’s a significant milestone in a state still carrying $135 billion in debt, expected to climb to $188 billion by the end of the forward estimates. The return to surplus isn’t about celebration—it’s about showing that Victoria can live within its means, even under pressure.
Rather than pretend everything can be fixed overnight, the Allan Government has taken a measured path: pause the megaprojects, rein in new spending, and stabilise first. This is not a flashy budget—but it is one with purpose.
Helping families where it counts
Among the clearest signals of support is the $400 School Saving Bonus. It’s a one-off payment per child to help families cover the rising costs of education—uniforms, books, laptops, excursions. This is targeted relief that will make a real difference, especially in households with more than one child.
In Greek households, where grandparents, parents, and siblings often pitch in for the next generation, this kind of help echoes our own values: education first, no child left behind.
Investing in people, not just projects
Beyond schools, the government has continued its investment in free TAFE and training pathways, particularly in care industries, early childhood education, construction, and renewables. These are jobs shape the society we live in, and they reflect where the next generation of workers—including many of us—will be needed most.
There is also continued funding for healthcare and emergency services, including support for public hospitals and regional roads. These aren’t always glamorous, but they are the services that keep Victoria running.
The quiet tax shift: No new taxes, but more taxpayers
The government has promised no new taxes, but that doesn’t mean people aren’t paying more. The land tax base has expanded, meaning more property owners—including those with modest investment homes or holiday houses—are now captured.
Large employers are still paying the COVID Debt Levy, and stamp duty continues to generate billions. So, while the Budget doesn’t introduce new taxes, it does quietly draw more revenue from familiar places, affecting landlords, small investors, and high-payroll businesses.
Missed opportunities: Renters, multiculturalism, arts, and public sector workers
There are gaps—some of them significant.
Renters, for example, receive no new support. There are no rent subsidies, no reforms to increase affordable supply, and no real signal that rental pressures are being prioritised. For young people and migrant families still trying to get into the property market, this absence is difficult to overlook.
In a sleight of hand, when one looks carefully at the budget papers, there seems to be a drop of around 25 per cent in the multicultural programs. Of course that may be made up of lapsing programs, especially COVID-19 pandemic initiatives, however it is the first time in many years that it has dipped so low. This is regrettable given the challenges that cohesion has seen over the last year.There may be room to grow that after the multicultural review initiated by the government.
The arts and cultural sector also receive less attention. In a state as proudly multicultural as Victoria—and a community as culturally rich as ours—the lack of new funding for multiculturalism, as well as, community arts and cultural expression is disappointing. These programs play a powerful role in wellbeing, identity, and social cohesion. Leaving them unfunded risks letting that value quietly erode.
Meanwhile, public sector workers—including teachers, nurses and emergency services staff—face another year of wage restraint. While this helps hold down costs, it may affect morale and retention. The long-term challenge will be keeping people in roles that are becoming increasingly difficult to fill.
A budget that feels like home
So, is it a good budget? It won’t transform the state. It doesn’t solve every problem. However, it avoids overreach, steadies the finances, and offers practical help to families without blowing the bank.
In an economic environment defined by volatility, restraint has value. This is a budget that seeks to protect—not disrupt. It seeks to govern—not perform. In doing so, it leaves room for bigger decisions next year, when the government will need to show how it turns stability into progress.
Many of us grew up in homes where budgets weren’t just numbers—they were choices. Our parents and grandparents knew how to stretch a dollar, save for the future, and make sacrifices today so tomorrow would be better. This budget feels like that. It’s not exciting—but it’s careful. It tries to help where it can. And it builds the ground for something better—if the government is brave enough to follow through next year.
In the meantime, we keep doing what our families have always done: work hard, look out for each other, and keep our eyes on the future.
*Tony Anamourlis is a tax law specialist in multinational transactions, negotiating with the Commissioner of Taxation and other regulators and is a regular contributor to Neos Kosmos.
