‘Big business’ to be hit with new levy in Victorian state budget to help fund Covid recovery

Treasurer Tim Pallas to hand down ninth budget on Tuesday with all eyes on debt recovery plans

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Big business is set to be slugged with a new tax to help repay billions of dollars worth of emergency funds borrowed by the Victorian government at the height of the Covid-19 pandemic.

Victoria's treasurer, Tim Pallas, on Tuesday afternoon will hand down his ninth budget, which will detail a Covid-19 debt repayment plan" that includes new revenue measures and savings to get the state's borrowings under control.

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