Victoria’s financial situation is dire.
Victoria has the lowest credit rating in the nation and the highest per capita state debt.
The major ratings agencies have warned that unless the state gets its debt under control, then it risks further ratings downgrades.
Any downgrade would ratchet up interest repayments on the state’s debt, which are already forecast to reach $10.6 billion annually by FY 2029.
Bureaucratic waste and infrastructure blowouts are drowning Victorians.
The situation was neatly encapsulated by former Treasury economist Stephen Anthony, who summarised Victoria’s predicament as follows:
“Victoria is on a suicide mission to record borrowing, just as global interest rates are about to hit 5%”.
“Potholes can’t get filled, emergency departments can’t afford clean linen, primary schools can’t fix heaters”.
“Things are about to get very ugly”.
Despite the dire situation, the Victorian government is in secret negotiations to sign a treaty with First Nations people that would see potentially billions of dollars transferred to the indigenous population:
It has been uncovered that the Daniel Andrews and Jacinta Allan governments have spent a combined sum of $382 million over the last ten years on Indigenous treaty negotiations…
The Victorian government’s Yoorrook Justice truth telling inquiry handed down its final report in early July after four years of proceedings and claimed the state had been illegally occupied and that Victoria’s First Peoples had been subjected to genocide.
The commission also made 100 wide-ranging recommendations to the Victorian government including providing Indigenous Australians with tax relief, financial reparations and called on the state to finalise a treaty agreement.
The treaty, which was previously in negotiation stages is now set to progress to parliament…
“Any Treaty will fundamentally change Victoria’s legal structure and will likely require already financially stretched Victorian taxpayers to pay billions of dollars to activists aligned to the Allan government”, [The IPA’s Research Fellow Margaret Chambers said].
Victorians voted 54.15% against The Voice referendum. Therefore, why has the Victorian government pursued such a treaty?
Voice referendum results
Victorians are already the highest taxed residents in Australia, and this treaty will make the situation worse by creating a special privileged group that will receive extra subsidies, tax breaks, and other perks.
Meanwhile, Victoria’s roads, public transport, schools, hospitals, and public housing will continue to be underfunded.
Enough is enough.
