Victoria's 2018/19 budget is precariously based on an ever-growing population and is unsustainable, shadow treasurer Michael O'Brien says.
Speaking at a post-budget Enterprise Victoria event on Friday, Mr O'Brien said the state was struggling to cope with mass, unbalanced population growth.
"When we dive a little deeper into this latest state budget you do get the impression it's a bit of a house of cards," Mr O'Brien said.
"It's a budget dependent on continuing high levels of population growth to underpin tax revenue."
Mr O'Brien likened the state's balance to a Ponzi scheme, over-reliant on growth.
"Labor takes the short-term sugar hit of revenue from property taxes upfront but you don't get the investment to deal with those population growth challenges into the future."
The Liberal-Nationals opposition used the event to take a swipe at the increasing number and percentage of taxes in Victoria and the ever-growing public sector.
The budget on Tuesday revealed the public service will cost $25.5 billion in the 2018/19 financial year and is forecast to continue growing to $28.2 billion by 2021/22.
Mr O'Brien also announced a coalition government would reinstate its major events company if elected
The Victoria Major Events Company, which initiated the Formula One Grand Prix, White Night, Presidents' Cup and more, would be revived and the Andrews government's Visit Victoria disbanded, Mr O'Brien said on Friday.
In a statement, Major Events Minister John Eren defended Visit Victoria as a "massive success story", generating more than 15,000 new jobs and helping increase visitor spending, and said Labor had restored funding for major business events.
