EMERGENCY... OR BUDGETING PROBLEM? #shorts #australia #victoria #economy

By Scott Kuru

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Victoria’s debt problem isn’t just about how much the state owes. It’s about what that debt is starting to COST. When an unexpected $231 million increase in interest costs needs to be covered through a fund reserved to deal with unforeseen spending, I think taxpayers have every right to start asking questions. Especially when Victoria’s net debt is forecast to keep climbing towards $200 billion by the end of the decade. There’s nothing inherently wrong with governments borrowing money. And there will always be genuine emergencies where governments need the ability to act quickly. But regular spending pressures and growing debt-servicing costs are different. At some point, you have to ask whether you’re dealing with an emergency or a budgeting problem. Do you think Victoria has lost control of its spending? Let me know in the comments.

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