Victorian parents of school-aged children will get a $400 bonus as part of the state’s budget aimed at easing cost-of-living pressures on families. More than 700,000 students will benefit from a school saving bonus, a major feature of the first budget under Premier Jacinta Allan. The scheme will cost $287 million and involve one-off payments for children at government schools and eligible concession cardholders at other schools.
Latest forecasts estimate Victorian taxpayers will be paying $24 million a day in interest by 2026/27 to service $177.8 billion in net debt. S&P Global Ratings credit analyst Anthony Walker said Victoria’s chances of a ratings upgrade were “very remote” in the medium term. “Right now it’s a stable outlook, we’re not expecting to change,” he told AAP. “But the data trajectory is potentially heading more towards AA- than a AA+.