Projections that the state’s debt would rise from $135.9 billion this year to $187.8 billion by mid-2028 highlight a need for drastic action.
After all, the Labor government showed an apparent indifference to escalating debt under Daniel Andrews’ leadership for much of the past decade, even as the state’s debt grew to the nation’s largest. Victorians can be forgiven for believing it didn’t really matter to the government.with projections that Victoria’s debt would rise markedly from $135.9 billion this year to $187.8 billion by mid-2028, and comprising the equivalent of more than one-quarter of the state’s economy.
The construction of three new community hospitals, in Eltham, Emerald and Torquay that were promised in 2019, is in doubt, as the government has placed the plan under review. Ratepayers can expect to hand over an extra $591 million over the next four years under an expansion of the fire services property levy.
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