The public financial corporations sector - which includes WorkSafe, the Transport Accident Commission (TAC), Breakthrough Victoria, the Victorian Funds Management Corporation (VFMC), the Treasury Corporation of Victoria (TCV) and the Victorian Managed Insurance Authority (VMIA) - posted a combined net loss of $3.5 billion in 2024-25, up from a $1.3 billion loss the previous year.
Breakthrough Victoria, originally backed by $2 billion in taxpayer capital, required a $75 million contingency payment from the Treasurer's Advance to support its operations, as confirmed in the Financial Report for the State of Victoria 2024-25.
Further, under Labor the public non-financial corporations sector - which includes Homes Victoria, Development Victoria, VicTrack, water corporations and other entities - posted a combined net loss of $13.1 billion in 2024-25.
Shadow Minister for Finance, Bridget Vallence, said: "These stubborn deficits across Victoria's public sector underscore growing fiscal pressures as a result of the financial incompetence of the Allan Labor Government.
"Every extra dollar spent on debt and interest is one less available for better health, education, community safety and transport services - and one more that future generations will have to repay.
"Labor cannot continue to run up debt and mismanage the economy. It's time for a fresh start.
"The Liberals and Nationals will restore responsible financial management, fix the budget, and ease cost of living for Victorians, making Victoria a place worth investing in again."
