Ratings agency S&P says Victoria could face a daily interest bill of $30 million by 2027 after it was revealed state debt has already grown to $126 billion.
Victoria’s government debt has blown out by another $11.7 billion to more than $126 billion and global ratings agency S&P warns the state is on track to almost double that number by 2027.
Melbourne’s $10 billion Airport Rail Link also remains in limbo. It was paused by the state government amid budget pressures, was recommended by the federal government’s infrastructure review, but is mired in a dispute between the state and Melbourne Airport about whether a station should be underground.
“Interest expenses topped $14.3 billion in fiscal 2023 … deficit states will borrow merely to meet interest outlays, creating a vicious feedback loop.” “Our economic strategy is all about creating jobs,” he said. “Keeping local communities strong, and encouraging businesses to invest and expand their workforces.
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.
Australian Economy May Have Contracted in December, Warns TreasurerEconomists predict that the Australian economy may have contracted in December for the first time since the COVID-19 pandemic. Treasurer Jim Chalmers warns that GDP growth figures expected next week are likely to be weak.
Read more »
Unnamed 'traitor' politician cultivated by spies puts loyalty of all politicians in question, says former treasurerA former politician was cultivated by spies, Australian intelligence has revealed, and former treasurer Joe Hockey says every politician's loyalty will be questioned until that 'traitor' is named.
Read more »
Victorian homicide police reportedly joining search for missing Ballarat mum Samantha Murphy7NEWS 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 »
Missing Victorian mum last seen wearing Apple WatchDetectives confirm that a missing Victorian mum was wearing an Apple Watch or similar device when she vanished on a run. Samantha Murphy has not been seen since leaving her home on Sunday morning.
Read more »
More Victorian businesses go bust as interest rate rises hit hardThe number of businesses going bust in Victoria has risen sharply. Others, like LaManna & Sons, are feeling the bite of 13 consecutive interest rate rises.
Read more »