Welcome to Australia’s failed state of Victoria:
The 2026 Victorian Commonwealth Games will be cancelled due to funding issues. The premier Daniel Andrews is expected to announce the move at a press conference at 9.30am.
Guardian Australia understands this is not a postponement – the games simply will not go ahead. But we’ll have to wait for finer detail at the press conference.
Here is the issue. Victoria has the largest state debt in the land:
COVID did not cause it; it is the population ponzi and runaway infrastructure costs:
Independent economist Saul Eslake recently blamed the Victorian Government’s debt blowout on its own profligate infrastructure spending as Andrews tried desperately to keep pace with population growth:
“Victoria’s financial position is by most measures in worse shape than any of the other jurisdictions, except the Northern Territory”, Eslake told The AFR.
It largely “reflects conscious policy decisions ever since they came to office, to embark on very big, largely debt-funded infrastructure spending programs”.
“All of those projects have suffered from cost overruns, as big projects almost inevitably do.”
The economic idiocy of mass immigration claims another scalp.
This time a good one as Dan Andrews will surely resign imminently.
