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

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.

Guardian Australia has confirmed this will include a new levy on “big business” – though it remains unclear how many businesses will need to contribute.

It comes after…