More than 50 state government agencies and services ran deficits in the last financial year, according to annual reports released this week.
More than 50 state government agencies and services ran deficits last financial year, with combined operating losses above $1 billion.
An analysis of the reports has revealed that more than 50 government bodies ran losses in 2022-21, including a dozen regional and rural health services that posted deficits between $10,000 to $5 million. Opposition finance spokeswoman Jess Wilson said the financial sustainability of key Victorian agencies was deteriorating.
Economist Saul Eslake said wages were the biggest cost for government agencies, and this week the federal Parliamentary Budget Office released its national fiscal outlook that highlighted concerns for Victoria’s finances at a broader budget level. Eslake said the government couldn’t solve its financial issues entirely by bringing in new revenue, but cutting spending in key state government areas such as schools, health and housing was difficult politically.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Child held in Victorian adult prison facility forced to wear spit hoodA child held in adult custody in a Victorian prison was subjected to a spit hood and forced to spend more than 20 hours a day in solitary confinement with water supply cut off, an inquiry has revealed.
Read more »
Erin Patterson arrested by Victorian police over suspected mushroom poisoning deathsPatterson, who has denied any wrongdoing, is being questioned by police over the 29 July family lunch in the rural Australian town of Leongatha
Read more »
Victorian government forced to delay housing and land tax reforms as Greens push backLabor has staved off defeat in parliament by postponing a vote on legislation the Greens say would do little to address the housing crisis
Read more »
Victorian pokie venues spent $184m of profits on themselves last year for ‘community benefit’Loophole offers tax cut to clubs that reinvest gambling revenue into community initiatives, which can include renovations and operating costs
Read more »
Major change for popular Victorian swimming spot Bright River Pool after summer rescues7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Police search for truck driver after teenage boy found dead on Victorian freewayThe boy was pronounced dead in the early hours of this morning on the Princes Freeway in Moe.
Read more »