The Victorian Government 2026-26 Budget was handed down on 20 May 2025. Here are some highlights:
Business and economic support
This Budget delivers $627 million to help businesses find new opportunities to expand and attract investment, and support the Victorian economy. Funding includes:
- $150 million Victorian Investment Fund to grow the State’s priority sectors.
- $35 million to provide one-to-one advice for small and medium-sized businesses to boost exports.
- $3 million Small Business Toolkits Program to support small businesses with advice and capability building, including localised workshops, live webinars, one-on-one confidential business advice and self-guided learning.
- $2 million to ensure that Victoria’s small businesses continue to have access to valuable small business information, tools, templates and advisory services through digital channels via the Business Victoria Online Delivery and Contact Centre.
- $1 million Boosting Business Skills Mentoring program to help up to 1,000 small business owners in priority sectors with dedicated mentoring from an experienced professional.
The 2025-26 Budget invests an additional $459 million in skills and TAFE, including:
- $171 million to support Victorians to access training, including an additional 20,000 workers to reskill through Free TAFE.
- $23 million to strengthen the apprenticeship system and help apprentices and trainees to complete their training.
- $44 million to create 9,600 more student places in digital literacy and employability skills training at Learn Local providers.
Cost of living
The Government’s $2.3 billion cost-of-living package provides support for:
- $156 million in cost-of-living supports to help manage household expenditure.
- $1.3 billion in cost-of-living supports to help families with kids at kinder and school, and Victorians at TAFE.
- $320 million to help families with the cost of transport.
- $529 million to help expand access to free healthcare and reduce out-of-pocket expenses.
Energy and environment
The 2025-26 Budget will invest:
- $288 million in Victoria’s energy transition.
- $152 million to help the Government ensure safe, reliable and affordable energy is maintained for Victorian households and businesses through an orderly transition.
- $13 million to progress planning for offshore wind projects.
- $30 million to expand the Solar Homes hot water rebates program.
- $12 million to support the rollout of insulation upgrades under the Victorian Energy Upgrades program.
Strong communities
The 2025-26 Budget provides:
- $629 million to support a strong and connected communities.
- $77 million to support Victorians from multicultural communities including $57 million to continue the English as an Additional Language program in schools.
- $552 million to continue strengthening our creative sector, including:
- $475 million to enable creative agencies to deliver exhibitions, performances and experiences.
- $50 million to continue support for Victoria’s screen industry.
- $13 million to grow creative jobs and reach more Victorians, including with touring performances.
Budget papers can be found here.