This Month
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.
Federal borrowing to top states as $1 trillion debt milestone looms
The federal government will borrow more money than the states this year for the first time since the pandemic, heaping more pressure on Treasurer Jim Chalmers.
Teachers’ huge 35pc pay claim is part of a union recruitment drive
The union’s Victorian membership plunged after its last pay negotiations resulted in a 2 per cent rise. Now it’s going for much more and wants non-members to know it.
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.
Stop blaming pandemic for state government debt binge: S&P Global
The high-profile credit ratings agency warns that infrastructure spending and more handouts are causing a significant deterioration in finances.
State debt to top $900b, triple pre-pandemic levels
The gross debt of state governments has increased by 150 per cent since 2019 to $661 billion, prompting calls by economists for premiers to rein in spending.
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.
‘It’s been one of the hardest things we’ve had to deal with’
Christine Christian is preparing to end her time at the State Library of Victoria, leaving behind an institution reformed in more ways than one.
‘Not about being dishonest’: D’Ambrosio says grid bill still unknown
Victorian Energy Minister Lily D’Ambrosio says cost of the multibillion-dollar renewable energy plan will be known only when all contracts are signed over the years.
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.
Cost of Victoria’s renewables grid plan understated by at least $16b
The state government has not been upfront about the $20 billion it will likely cost to build its new renewables grid, experts say.
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.
A complacent Wonder Down Under is heading for a productivity fail
Crazy levels of government spending, and Victoria’s status as one of the most indebted states in the world, helps explain Australia’s miserable performance.
Victorian government to increase mining fees by 234pc
Labor argues the revenue is needed to cover regulatory costs, but the industry warns it will drive investment away
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.
Like the Liberals, Jacinta Allan needs rescuing from her echo chamber
Smart governments learn lessons from victory as well as defeat. There is no sign of that yet in Victoria.
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.