are set to plunge public finances billions of dollars further into deficit this year and force the government to ramp up its already all-time-high debt.
, while the state government says its direct spending to prop up the economy since June is more than $4.2 billion.Eddie Jim The prolonged lockdown of the nation’s two biggest cities, and the subsequent slump in non-food retailing, is likely to hit the Commonwealth’s GST take, making life harder still for Victorian and NSW treasurers next year when they will have a share of a smaller national GST pie to bolster their books.
“They’re going to have to reload the gun again for the next budget to get the economy going in the way they had hoped it might have done now,” he said.Uncertainty surrounding the restart of key industries such as international education, tourism, hospitality and the revival of Melbourne’s CBD all loomed as challenges for the state government.which watches state budgets carefully for its credit rating advice, said she expected Victoria’s fiscal position to remain “very weak”.
noeltowell Disaster the great tunnel is already 4 billon over budget. Irresponsible Labor spending. VIC was billions in debt even before the pandemic.
noeltowell Labor insisted upon lockdowns
noeltowell Bankrupt!
noeltowell Good update The Age. Vic will recover. People that are alive can.
noeltowell 'thank you Dan'
noeltowell Victoria under the emporer No Plan Dan Andrews. Remember he gets paid 500k a year to do this.
noeltowell That's horrible
noeltowell How much have the feds been paying for hotel quarantine?
noeltowell What do they want?
noeltowell You mean as a result of the pandemic, surely?
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