A Treasurer's Advance provides legal and parliamentary authority to the State Government to access funds not accounted for in the Budget. Treasurer's Advances are intended to be used to meet urgent and unforeseen expenditure requirements, such as responding to natural disasters.
Tabled yesterday in the Victorian Parliament, the Financial Report for the State of Victoria 2024-25 has confirmed a total of $2.65 billion of Treasurer's Advance payments relating to decisions post budget across the 2024-25 financial year, including:
- $1.46 billion for "Additional hospital system support"
- $124.3 million for the "Social Housing Growth Fund"
- $54.2 million for a "Community Safety Package"
- $44.3 million for the "Metropolitan Tram Franchise Agreement"
- $32 million for "Delivery of the Australian Grand Prix"
- $30.68 million for "Boosting Economic Growth - Industry Grants"
- $9 million for a "Free Camping Trial"
- $4 million for the Department of Premier and Cabinet "Wage indexation funding"
- $2.4 million for "Regional car parks"
In addition, $8.26 billion was spent via Treasurer's Advance payments relating to contingency releases - bringing total Treasurer Advance payments for 2024-25 to more than $10.9 billion.
In January 2025, Treasurer Jaclyn Symes questioned the Labor Government's use of Treasurer's Advances and requested the Department of Treasury and Finance provide advice relating to their ongoing use.
Despite this, these figures confirm the Allan Labor Government continues to rely on this secretive funding mechanism to meet core government expenditure as Victoria's net debt grows at more than $2 million a day and is expected to reach a record $194 billion by mid-2029.
Shadow Treasurer, Jess Wilson, said: "For years, Labor has increasingly misused Treasurer's Advances to avoid financial accountability and mislead the community over the true state of the budget bottom line.
"There is nothing 'urgent and unforeseen' about funding social housing, public transport, healthcare or delivering the Grand Prix, yet Labor continues to rely on this opaque funding mechanism to meet core government expenditure.
"Treasurer, Jaclyn Symes, must explain why she has backflipped on her commitment to reduce the use of secretive Treasurer's Advances.
"A future Liberal and Nationals Government will rebuild community and investor confidence in the integrity of Victoria's finances by establishing a Charter of Budget Honesty and establishing a real-time expenditure tracker."
