The Victorian government is a financial black hole

Wednesday 29 November 2023

Following nine years of financial incompetence from the Andrews Labor Government, Victoria is drowning in debt with the nation’s lowest credit rating:

Victoria has the nation’s largest state debt (Source: Alex Joiner).

Saul Eslake, an independent economist, asserts that Victoria’s mounting debt is attributable to the government’s decision to “embark on very big, largely debt-funded infrastructure spending programs”.

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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.