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In 2024, former federal Treasury official Stephen Anthony warned that Victoria may need a federal “bailout” due to increasing state debt.
The federal government has already effectively moved to bail Victoria out.
In 2024-25, Victoria’s GST allocation was increased by $3.8 billion, whereas NSW lost $188 million.
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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.