Pallas insists he will continue to serve as part of Jacinta Allan’s government despite missing out on becoming deputy premier on Tuesday.
The failed bid was part of a power play by Pallas’ Socialist Left faction to maintain control of the Labor Party’s leadership and deputy leadership positions. Public Transport Minister Ben Carroll, from the Right, was instead elected deputy unopposed as part of a last-minute peace deal between the two factions to prevent a public ballot and potentially weeks of leadership uncertainty.Spring Street has long been awash with rumours that Pallas, 63, planned to retire not long after Daniel Andrews.
During her first press conference as Labor leader, Allan confirmed she wouldn’t be sidelining her factional ally as part of the upcoming cabinet reshuffle due to occur in the next few days.“I look forward to working alongside Tim as treasurer,” Allan said. “Tim has been an outstanding treasurer of this state. He’s handed down nine budgets. Nine. That is no mean feat. He’s a great man.”
During his years as Andrews’ treasurer, Pallas oversaw public sector wage growth, with the government negotiating new pay deals for teachers, nurses, police and firefighters.under Pallas’ financial stewardship, with cheap credit and low inflation encouraging governments across the world to borrow money to build projects.
The budget also indicated Victoria’s debt will rise to record levels. Net debt will lift from $135.4 billion next financial year to $171.4 billion by 2027 – the equivalent of 24.5 per cent of the state economy.hit Victorian property investors, landlords and holiday homeowners with a bigger land tax bill, while payroll tax was also hiked.
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