Victorians will continue to pay the price of the Andrews Government’s incompetence as net debt continues to rise to record levels.
Speaking today in State Parliament, Treasurer Tim Pallas would not rule out a further increase in net debt beyond the current forward estimates.
Under Labor, net debt is expected to increase to $171.4 billion in 2026-27, despite the Andrews Government introducing billions of dollars worth of new taxes in the recent State Budget.
Shadow Treasurer, Brad Rowswell, said: “Under Labor, Victoria is broke, life is getting harder and Victorians are paying the price for the Andrews Government’s incompetence.
“This budget was supposed to address our record debt but has failed to do so as Victorians are slugged with a new Rent Tax, Schools Tax and Jobs Tax.
“And by the Treasurer’s own admission, debt is expected to continue to escalate and burden future generations.”
