Victoria's debt would have been lower under a Coalition government if Labor had lost out at the recent state election, a post-election report says.
The Parliamentary Budget Office's report found the Coalition's election platform was capable of reducing net debt by 6.2 per cent in 2025-26, compared with the debt forecast in the latest budget update.
Labor's plan was forecast to reduce debt by 0.6 per cent under its election plan.
However, the state's debt has skyrocketed in recent years, with the report showing that by 2025-26 it would remain at a level more than four times higher than in 2018-19.
While Victoria's net debt would be lower in 2026 than the latest budget predicted under either party, the differences represented "relatively modest reductions to a continued increasing net debt forecast position over the medium term", the report said.
Regardless of what party was in power, the budget office expected Victoria to retain the highest net debt to GSP ratio of any Australian jurisdiction - more than 50 per cent higher than the second-highest state.
"This means that in the 60th parliament, either party would need to dedicate a greater proportion of revenue to servicing the debt burden than in the last parliament," the budget office said.
Labor announced 82 policies and the Liberals and Nationals announced 112 ahead of the November state election, with Labor ultimately coming up trumps.
As for policy areas, health and economic affairs came in the top two for budget impact.
