Victoria's debt is set to balloon to record levels as the state government battles to rein in spending, even as the axe looms over thousands of public sector jobs.

Treasurer Jaclyn Symes's first state budget reveals net debt will reach $167.6 billion this year, before growing to an eye-watering $194 billion in three years' time.

It will see the state pay $7.6 billion in interest in 2025-26 — or $20.7 million a day. Those repayments will jump to $10.6 billion annually or $28.9 million a day in three years' time.


WTAF?!!!!

Captain Nemo wrote on May 20^th, 2025 at 2:12pm:



It's currently a $550B economy. It can accommodate it's debt

Labor racks up massive debt on Government credit card then like a junkie high on crack they have to increase taxes to rob taxpayers.

What did you get for this debt why did Labor pay Glasgow to take Commonwealth games?

Must be some creative accounting when debt is increasing while they try to claim a surplus

John Smith wrote on May 20^th, 2025 at 2:28pm:


Yeah - plenty of room for waste in there - always more where that came from!!

That's the spirit.... would you allow a group like that to run your household finances for you?  We all know it's different and mor complex - that just offers more opportunities to waste money on stupid and endless social science BS instead of making sure the bills are paid first.

You don't go ahead and set up parental counseling and advice bureau for your kids before buying their school uniforms and books and such.  You don't run an inquiry into whether or not it might upset you neighbour if you buy a new car...