Victorian Premier Daniel Andrews has defended the state’s debt blowout, arguing it needs to borrow money to pay for the infrastructure that will be needed as Melbourne prepares to become Australia’s largest city.
According to Treasury projections, net debt will rise from $135.4 billion this year to $171.4 billion by 2027.
That’s despite the latest state budget including billions of dollars in increased taxes and levies, delays in key infrastructure projects, and cuts to public services.
