VIC Budget rides ponzi monster wave

Thursday 13 October 2016

The epic property boom and population ponzi has delivered a big boost to the Victorian Budget, with the state recording a final surplus of $2.7 billion in 2015-16, well up from the $1.2 billion surplus recorded in 2014-15:

The final surplus of $2.7 billion – more than double the 2014-15 final result of $1.2 billion – is consistent with the strength of the Victorian economy since the Labor Government was elected, bolstered by a strong property and labour market.

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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.