JohnDe
La dolce vita
- Joined
- 11 March 2020
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I posted this video in another thread, but seeing as this happened in Victoria, I think it is relevant here.
Hmm Wayne the other one that I searched into the depths of the grey matter. Peter Collier.We can only hope not
Spitting in the face of all the kids who have suffered mental illness because of this demon's tyranny.
Victoria’s debt has jumped by more than $20 billion in the past year and the interest bill has surged almost 30 per cent, stretching the government’s ability to pay for basic services such as health.
Labor Treasurer Tim Pallas on Friday reported that net debt had reached $140.7 billion as of September 30, up by $7.4 billion since June.
SA&P Global Ratings analyst Anthony Walker forecast that Victoria’s debt would reach $196 billion by June 2026.
The new Treasury figures show the Victorian government’s quarterly expenses bill jumped 7.7 per cent over the past year to $24.9 billion in the three months to September.
The largest growth in expenses was interest payments. The government forked out $1.6 billion in interest to bondholders last quarter, 28.1 per cent more than in September last year.
The assessment comes amid signs the government is struggling to meet spending commitments and is under pressure to further increase its public sector wages spending.
An annual report tabled in parliament this week revealed Victoria’s health services are $1 billion in the red, while state police seeking a 24 per cent pay rise over four years walked off the job for the first time in two decades.
The Reserve Bank of Australia has said it has been surprised by the magnitude of the recent increase in public sector spending, which some economists have blamed for prolonging inflation.
Treasury secretary Steven Kennedy revealed on Wednesday that state and territory governments had made $20 billion worth of new spending announcements for the 2024-25 financial year that were not accounted for in the federal government’s budget in May.
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