Having resisted any appeals from the federal government for moderation in 2020 and 2021, it is a bit rich for the Victorian premier to look to Canberra now for help in fixing his budget black hole, writes Robert Carling.
to help his state’s crippled budget. Although it is true that Victoria’s state finances are in poor shape, it is also true that this is the state government’s own fault.
The lessons of this experience stuck with the subsequent Labor governments of Steve Bracks and John Brumby – which, by and large, ran a disciplined fiscal policy up to 2010 – and the one-term Liberal government that followed.began to unravel after the election of the first Andrews government in 2014. The new government was apparently itching to use the strong fiscal position it had inherited as a platform to spend up big.
As a result, Victoria has recorded the largest fiscal deterioration of any state or territory and has gone from enjoying one of the strongest fiscal positions to the weakest within a few years.
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