For years now, I have been a harsh skeptic of Victoria’s economic model (see here, here and here), which involves importing people via immigration to feed the construction, finance and people servicing industries.
This “population ponzi” has led to a decline in living standards for the typical Victorian, with real gross state product (GSP) per capita recording virtually zero growth since 2008 (see next chart), and other measures, such as traffic congestion, housing affordability, and utilities costs (e.g. from the desalination plant) worsening.
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