Victoria budget debt to hit more than $150b by 2024

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  • Sky News Australia published this video item, entitled “Victoria budget debt to hit more than $150b by 2024” – below is their description.

    Victoria’s record spending budget is projected to blow out the state’s debt from $86 billion to more than $150 billion as a result of the $346 billion spend across the next four years. Health, education and housing were the big-ticket items in the Andrews government budget, with billions poured into projects including free kindergarten, free TAFE and the building and upgrading of hospitals across the state. Victoria’s deficit tripled over the past year and inflated debt levels, which was estimated to equate to about $23,000 per Victorian man, woman and child. The state’s Treasurer Tim Pallas, however, said now was the time to spend – with record low interest rates and the economy in desperate need of stimulation.

    Sky News Australia YouTube Channel

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