This Month
Victorian public service changes begin ahead of cost-cutting report
Executives at some departments and agencies have consulted employees about organisational restructure plans before the release of a widely anticipated review.
Jacinta Allan to delay cost cuts for months
The Victorian Treasurer has revealed the state Labor government will sit on an independent cost-cutting review, despite receiving it at the end of June.
June
Victoria’s debt is among the worst in the world
S&P Global analysis shows the state carries a greater debt burden than 17 comparable jurisdictions and is on track to hit a critical threshold for another credit rating downgrade.
Victorian public service paying for advice it ignores, report finds
Government departments, which spent $130 million on consultants and contractors last year, sometimes hired them with no valid reason or failed to track their work.
Victorian treasurer courts Wall Street investors
Jaclyn Symes met investors, credit rating agencies and businesses in New York after handing down her first state budget that showed net debt will grow to $194 billion by 2028-29.
Dan Andrews’ hacks revealed in independent Victorian purge
A leaked organisational chart of Helen Silver’s review into the public service shows two former political staffers are involved.
Victoria to spend $81m on advisers. Eslake says he’ll do it for free
Victorian Treasurer Jaclyn Symes has set aside more than $81 million for economic and policy advice this year. Economist Saul Eslake says she could’ve given him a call.
May
Vic Labor hiked taxes to pay down debt. Instead, it rose by $5b
The government debt pile will be bigger than ex-treasurer Tim Pallas promised when he hit businesses and investors with higher taxes to pay off pandemic borrowing.
Investors shrug at Victorian debt bomb in search for new safe haven
For all the talk about the age of market vigilantism and deteriorating public balance sheets, there’s no lack of interest in Australian state government bonds.
Budget reply shows Libs have no plan for Victoria’s debt: economists
In a fiery address to parliament, shadow treasurer James Newbury described Victoria as a “run down state” with the highest taxes and biggest level of debt.
Numbers Victoria is relying on to kill debt are at odds with the RBA
Official federal estimates don’t support the population growth that Treasurer Jaclyn Symes says will drag the state out of debt.
The 65-year-old Victorian too taxed to retire
For business owners including this restaurant owner, the raft of increased levies in this week’s Victorian budget just pile on the pain.
Breakthrough Victoria’s funding slashed amid cost-cutting review
Start-ups and investors claim they have been left in the dark by apparent funding cuts to the government’s venture capital fund, run by former premier John Brumby.
It’s not just taxes hurting Victorian businesses, it’s red tape
Peter Angelico says excessive, “box-ticking” regulation is putting a handbrake on his business.
Victoria warned to fix ‘punitive’ taxes or face worse housing problems
Treasurer Jaclyn Symes confirmed she has been consulting industry about reforms to lift housing supply, and proposed tax setting changes “are on the table”.
Allan says spending on handouts more important than debt right now
The Victorian premier has defended the budget, saying fiscal responsibility is important but so is providing cost-of-living relief for families.
Victoria’s budget black hole alarms ratings agencies
A budget black hole of more than $20 billion to build the first stage of the Victorian government’s $34.5 billion Suburban Rail Loop is among a string of red flags.
Ratings agencies pan Victorian budget’s lack of restraint
A $2.3 billion cost-of-living package including household energy rebates in Jaclyn Symes’ first budget will send debt to a record within four years.
Jaclyn Symes promised to fix the budget. She squibbed it
Jaclyn Symes had the opportunity to embark upon much-needed budget repair. She didn’t.
Victoria’s debt problem has a worrying echo of American crisis
Business leaders are sick of the state being a laggard. This budget will do nothing to change that.