Stamp duty bust adds to Victoria’s budget woes


Victoria is the country’s most indebted state, with the lowest credit rating.

S&P Global expects Victoria’s debt to rise to $247.2 billion by 2027, up from $55.2 billion in 2019, making it Australia’s worst-performing state.

Soaring state government debt

Victoria’s poor budgetary position is based on waste.


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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.