Victoria’s next crisis is economic and budget collapse

Friday, 11 September 2020

Via Stephen Mayne at Crikey:

If Scott Morrison and Josh Frydenberg really want to pressure Dan Andrews to lift Victoria’s lockdown early, they’ve got a very big card they could play: financial support.

The Victorian budget and balance sheet is in more strife than any other Australian government because the pandemic has forced it to spend like never before as its revenues have plummeted.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.