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As we know, the Victorian government’s negligence has left residents facing debt enslavement.
A decade of excessive bureaucratic spending, tens of billions of dollars in infrastructure cost overruns, and pandemic lockdown expenses have left Victoria with the nation’s largest state government debt and the lowest credit rating.
Former Treasury economist Stephen Anthony summed up Victoria’s financial predicament as follows.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.