Victorian Premier Jacinta Allan has defended her government’s decision not to tackle the state’s soaring debt that is forecast to reach a record $194 billion within four years, saying her priority is providing cost-of-living relief for households.
Economists and credit rating agencies warned Victoria must show fiscal restraint and address net debt, which will cost taxpayers $10.5 billion in interest expenses by 2028-29 or risk a further credit downgrade after Tuesday’s budget failed to curb spending.
