Dictator Daniel Andrews: MAD

frugal.rock said:

Do Victorians know the level of debt Victoria holds?

WHAT WAS CLAIMED​

Victoria’s net debt is forecast to be higher than the combined debt of NSW, Queensland and Tasmania.

OUR VERDICT​

True. By 2025/26, Victoria is forecast to have a net debt of $167.5 billion. NSW, Queensland and Tasmania combined are forecast to have $159.2 billion.

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There's also a point that Qld and Tas (not sure about NSW) both own businesses that actually sell something and produce income.

CS Energy
Stanwell Corporation
CleanCo
Hydro Tasmania
Powerlink
TasNetworks
Metro Tasmania
TT-Line
Aurora Energy
Ergon
TasRail
MAIB
SunWater
Energy Queensland
Various shipping ports in both states

And so on. Between them there's $ billions in physical assets and whilst not all are profitable, some certainly are.

Versus in Victoria to my understanding the only thing really backing the debt is future taxation revenue. Maybe there's the odd random other thing (?) but they don't seem to have much that's selling an actual product or service to someone for profit, it's taxpayers who are on the hook for the full debt.

Smurf1976 said:

There's also a point that Qld and Tas (not sure about NSW) both own businesses that actually sell something and produce income.

CS Energy
Stanwell Corporation
CleanCo
Hydro Tasmania
Powerlink
TasNetworks
Metro Tasmania
TT-Line
Aurora Energy
Ergon
TasRail
MAIB
SunWater
Energy Queensland
Various shipping ports in both states

And so on. Between them there's $ billions in physical assets and whilst not all are profitable, some certainly are.

Versus in Victoria to my understanding the only thing really backing the debt is future taxation revenue. Maybe there's the odd random other thing (?) but they don't seem to have much that's selling an actual product or service to someone for profit, it's taxpayers who are on the hook for the full debt.

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They export a lot of people.... does that count ?

frugal.rock said:

WHAT WAS CLAIMED​

Victoria’s net debt is forecast to be higher than the combined debt of NSW, Queensland and Tasmania.

OUR VERDICT​

True. By 2025/26, Victoria is forecast to have a net debt of $167.5 billion. NSW, Queensland and Tasmania combined are forecast to have $159.2 billion.

Victorian Liberal leader’s figures on public debt add up

Matthew Guy has claimed the state's net debt is tipped to rise higher than the corresponding figure for NSW, Queensland and Tasmania combined.

www.aap.com.au

No wonder he wanted to sell out Victoria to China & Xi on the Belt and Roads program.
Why?
Because that's what Australia's most "progressive" State does when it's been poorly managed for so many years.

How's Melbourne after the world's strictest lock downs guys?
Looking good is it?
All those little businesses here and there back to it and open again?
??

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That is a lot of debt for a tier of government that is not really required and could be abolished completely without much downslide.

Fact Check on Labor's claim that the Libs cut health spending.

the legacy of the recent years is finally being recognised... a kleptocracy where some unions and bikies have plundered the state under the benevolent eye of those in power is coming to light.


don't whinge about paywall, spend $5.40 , educate yourself and weep.

CFMEU infiltrated by bike groups.
Another great investigation by the Age/SMH. Last group standing that does this deep investigation work.

Knobby22 said:

CFMEU infiltrated by bike groups.
Another great investigation by the Age/SMH. Last group standing that does this deep investigation work.

Latest & Breaking News Melbourne, Victoria | The Age

The Age has the latest local news on Melbourne, Victoria. Read National News from Australia, World News, Business News and Breaking News stories.

www.theage.com.au

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Nick McKenzie is going to end up encased in a concrete foundation somewhere. Pis5ed off the army, now the bikers and union. Guy has a pair on him I'll give him that.

moXJO said:

Nick McKenzie is going to end up encased in a concrete foundation somewhere. Pis5ed off the army, now the bikers and union. Guy has a pair on him I'll give him that.

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Why did this get moved into the Dictator Daniels thread? CFMEU are in Sydney also, in fact many of the bikers mentioned are in the NSW branch. Need a CFMEU thread.

Anyway, going to get nasty now. Good reporting. Where are the police?

Knobby22 said:

Why did this get moved into the Dictator Daniels thread? CFMEU are in Sydney also, in fact many of the bikers mentioned are in the NSW branch. Need a CFMEU thread.

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I put it in this thread, because the BLF / CMFEU cancer has been a peculiarly Victorian disease and under Dan Andrews the malignancy has spread. The Big Build has seen snouts seek out troughs on an industrial scale. We can't accuse other cultures of kleptocratic behaviour and ignore the structural similarities here.

By all means set up your own thread .

Dona Ferentes said:

I put it in this thread, because the BLF / CMFEU cancer has been a peculiarly Victorian disease and under Dan Andrews the malignancy has spread. The Big Build has seen snouts seek out troughs on an industrial scale. We can't accuse other cultures of kleptocratic behaviour and ignore the structural similarities here.

By all means set up your own thread .

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I wouldn't go as far as to say it is a Victorian disease, I remember having to stay at work for two days operating a power station, because the union put in a picket line and wouldn't allow a change of shift in.

So we were told to leave, which would have meant shutting down the Power Station and leaving it unattended, which our operators licence didn't allow and would leave us open to civil action and repercussions.

We rang our union who said they weren't a party to the action, so that didn't happen

Well after 44hrs they relented and let the eight shift staff change over happen, the good thing was we had free run of the canteen, so it was full English breakfast all round.
But it was a long two days and some of the guys really struggled mentally.

The CFMEU didn't give a ratz, so i don't think they were any shining light for the union cause.
Thugs sums them up pretty well IMO.

Oh the good old days, when you just got on with it, rather than make it a National emergency, now it would probably qualify for disability and lifetime counselling services.

Knobby22 said:

Why did this get moved into the Dictator Daniels thread?

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I suggested it to Joe as there was already a post on the issue. I was too lazy to look for the union thread.

sptrawler said:

The CFMEU didn't give a ratz, so i don't think they were any shining light for the union cause.
Thugs sums them up pretty well IMO.

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This isn't new in Victoria. Walk around the Melbourne CBD past random building sites and someone unaware of the truth would likely conclude the CFMEU was either an extremely dominant building contractor, a major property development company, a bank that's financing it all or an arm of government.

Their signs are everywhere, far more so than I've seen that in any other state. They seem to cover every building site with them as a matter of course, a not so subtle flexing of power even where no dispute or issue exists.

Nothing new about it though. Victorian unions were militant 50 years ago so it's not new.

The chairman of Melbourne-based biotech giant CSL, Brian McNamee, says leading fund managers have told him Victoria is currently uninvestable and warned the damage wrought by years of financial mismanagement by successive Labor governments will take at least a decade to fix.

Business leaders, former senior politicians and a former government auditor on Monday expressed concerns about Victoria’s debt trajectory after a damning review of the state’s finances was published in The Australian Financial Review, which Premier Jacinta Allan largely dismissed.

The review by economist Saul Eslake found that Victoria has fallen from the richest and most powerful state in the country for most of the past century, to at or near the bottom across a range of key economic indicators, including household income. Mr Eslake predicted voters will face hefty spending cuts and more tax rises to pay down the state’s debt.

Responding to the review, Mr McNamee referred to an event organised by Morgan Stanley. “I was in Sydney last week meeting many very senior fund managers and the lunch thematic was Victoria is uninvestable … the pain will last a decade or more given the fiscal mismanagement of the last 10 years, it’s reckless,” he told the Financial Review.

Bob Officer, who audited the finances of the Kennett government in Victoria and the federal Howard government, as well as Victorian Labor’s election campaign in 2014, said the “statistics speak for themselves” in Mr Eslake’s review of the state’s finances and his analysis “is almost unchallengeable".