Record Victorian State Government Debt

[What'sinaname]

Can the Labor Government get on top of the record debt levels without imposing a new / more tax on Australia's highest taxed State?

[David]

This is mostly fallout from COVID, right?

[What'sinaname]

^ if you ask Dan, it is everyone and everything else's fault.

[David]

Whether or not that's the case, it remains the case that COVID has been extremely costly for many jurisdictions. New South Wales' debt is about to blow out to over $100 billion last I checked, and they had a far less dire experience of COVID than we had. It's not an excuse for poor economic management (and I don't have a strong view either way on Andrews' performance on that front), but we have to at least factor these external contributors in.

https://www.abc.net.au/news/2022-06-21/nsw-budget-deficit-more-than-trebles/101169652

[stui magpie]

All of Dans Major Projects being billions over budget hasn't helped.

[swoop42]

When has a project under any Australian Federal or State Government ever been on budget and on time?

LOL.

[stui magpie]

Reminds me of the Cain days, Government debt in Victoria is the highest of all states, Danny borrowed metric shitpiles of cash to advance his Big Build program (to keep the CFMEU onside) and now interest rate have gone up, he blames the reserve bank.

Victoria is going to be FUBAR economically for the foreseeable future. Labor under Dandrews is both corrupt and incompetent while the opposition Libs are more incompetent (if that's possible) and hopelessly riven by competing interests so there is no credible opposition party. SNAFU.

[think positive]

wheres joan when you need her!

[watt price tully]

Forget the hyperbole. There’s debt and there’s debt. It has very little similarity with the Cain Government days unless you read the American owned media.

We could’ve been eating no 3, 17 and 46 on the menu had the steel
and belt funding arrangement’s continued.

The debt has occurred due to a number of reasons including but not limited to:

1. COVID spending which was a necessary evil;
2. Capital spending on major projects;
3. A downturn in revenue due to the pandemic;
4. The Malevolent Morrison Federal Government deliberately not funding Victoria in major infrastructure instead disproportionately funding NSW then a Liberal State Government
5. The Malevolent Morrison Federal Government deliberately funding WA a Labour state hoping to win Federal WA seats ( he didn’t- Morrison lost big time in WA);
6. Unpredicted inflation;
7. Unforeseen interest rate changes; and,
8. North face jackets.

[stui magpie]

9. Dandrews masks for the acolytes to buy for their partners to wear during intercourse.

[watt price tully]

[What'sinaname]

^ Cute analysis. Now do that same based on taxation on state product per capita.

Also cute that you ignored to copy and paste and next line of the analysis....

"The figure represents a 24.6 per cent increase over 12 months, as the total tax revenue climbed from $29.6 billion to $36.9 billion."

[What'sinaname]

....the answer is......



NO.

[LaurieHolden]

[Pies4shaw]

^ Look, I think that's a capital "F", isn't it?