Treasurer Jaclyn Symes has presented Victoria's budget ahead of the November state election, focusing on cost-of-living relief while grappling with a record net debt of $199.3 billion. Key initiatives include a 20% discount on car registrations, extending free public transport, and half-price fares through 2026, totaling $2.5 billion in cost of living measures. Despite these efforts, the budget anticipates interest repayments on debt will rise to $11.8 billion by the end of the decade, driven by refinancing and new infrastructure projects. The plan also includes funding for 7,000 social houses, health services, and support for children with disabilities. However, economic growth is projected to slow to 1.5% in 2026-27, prompting concerns over the sustainability of the fiscal strategy as the government aims to manage debt relative to the state's gross product.