Business
Victorian budget: Soaring debt and deficit, but no need to panic – The Age
At times like these, it’s far better for the government to balance the economy, rather than the budget.
The budget deficit will be as much as $26 billion, compared to a surplus of $1 billion in 2018-19. That is a massive injection of cash in any language. State debt will soar, climbing from $22 billion last year, to more than $80 billion by the middle of next year and almost double that again in four years.
Spending on social housing is one of the budget promises. Credit:Paul Rovere
Debts and deficits will dwarf the levels reached under the Cain/Kirner Labor government in 1992. Back then all that…
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