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Last year, former federal Treasury official Stephen Anthony warned that Victoria may need a federal “bailout” due to increasing state debt, which reached $27,729 per person in 2023-24.
“Victoria is on a suicide mission to record borrowing, just as global interest rates are about to hit 5%”, Anthony warned.
“Potholes can’t get filled, emergency departments can’t afford clean linen, primary schools can’t fix heaters”.
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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.