Business
‘Surging towards a healthy recovery’: Treasurer spruiks growth as state sinks deeper into debt – The Age
Victorian Treasurer Tim Pallas says the state government has followed the Reserve Bank of Australia’s advice and stimulating the economy by borrowing big and spending…
That took the states total debt to more than $61 billion, meaning the ratio of debt to the size of the Victorian economy grew from 10 per cent to 14 per cent. NSWs net debt is $53 billion, but Victorias liabilities are forecast to grow to be 50 per cent greater than NSWs by 2023-24.
Mr Pallas did not rule out future tax increases.
I make it a standard practice never to rule out or rule in tax increases or decreases. That is something to be considered in budgets, the next of which is in May, he said.
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