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The massive rise in state debt has placed Victoria in a precarious financial position.
When the state Labor government took office in 2014, Victoria had very low debt. Now it is the most indebted state government with the lowest credit rating.
Victoria’s debt binge has been brought about by profligate spending on the public service, which has ballooned in size, as well as infrastructure, which has been mired in rorts and CFME corruption.
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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.
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