THE Victorian budget is reportedly facing a one billion dollar shortfall in revenue. 

Fairfax media reports updated budget figures to be released today show stamp duty collections were slashed by $285 million this financial year, creating a predicted shortfall of around 1.2 billion dollars for the next four years.

GST revenue is set to fall by six billion over the same period.

The news puts pressure on the state government, which is aiming to deliver a budget surplus of at least $100 million  this financial year.