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Victoria state budget 2026: state back in black and forecasting two back-to-back surpluses Benita Kolovos Victorian state correspondent
Labor’s 2026-27 budget shows state has recorded a $700m surplus this financial year, the first since before the Covid-19 pandemicFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastVictoria is back in black for the first time since the start of the Covid pandemic, with Tuesday’s state budget to deliver an operating surplus and forecasting another next financial year.The 2026-27 budget, to be handed down on Tuesday afternoon, will show
4 May 2026 at 19:00

Victoria state budget 2026: state back in black and forecasting two back-to-back surpluses

By: Benita Kolovos Victorian state correspondent

4 May 2026 at 19:00

Labor’s 2026-27 budget shows state has recorded a $700m surplus this financial year, the first since before the Covid-19 pandemic

Victoria is back in black for the first time since the start of the Covid pandemic, with Tuesday’s state budget to deliver an operating surplus and forecasting another next financial year.

The 2026-27 budget, to be handed down on Tuesday afternoon, will show the state recorded a $700m surplus in 2025-26, largely in line with December’s pre-budget update of $710m and an improvement on the $611m forecast last May.