From smallcaps.com.au: Victorian Treasurer Tim Pallas resigned and implemented significant tax increases, including transforming the former Fire Services Levy into an “Emergency Services and Volunteers Fund,” which doubles the tax rate.

This increase, alongside other tax hikes, aims to address the state’s mounting debt, projected to reach $187 billion by 2028, but critics argue it primarily funds a bloated public service rather than specifically earmarked emergency services.