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The 2024-25 State Budget was handed down by the Treasurer, Tim Pallas on 7 May 2024.
COTA Victoria and Seniors Rights Victoria (SRV) have developed this briefing to inform older Victorians and organisations supporting them on:
- What initiatives of direct benefit to older Victorians have been announced in the Budget.
- How this investment aligns with priorities identified by COTA Victoria and Seniors Rights Victoria.
We recognise that current financial pressures on the Victorian Budget have created significant constraints on its capacity to respond to the increasing needs of our ageing population.
At the same time, the impact of spiralling everyday living costs and of widening gaps in health and social support services, is putting more and more pressure on many older Victorians – increasing the number who feel vulnerable and disadvantaged.
In this context, we are pleased that the Budget largely maintains funding for key areas of concern for older people, including seniors participation programs, public sector residential aged care, community support and concessions. Older people will also benefit from investment in new healthcare capacity.
We note the predominant focus on young families and urges government to recognise that older people play a key role in supporting families – as grandparents, volunteers and informal carers. Helping older people to be part of the solution also requires investment.
This Budget leaves open a significant agenda for meeting the older Victorians, in terms of support in coping with daily living and growing difficulties in accessing key services. We will continue to advocate for these needs to be addressed.