Victoria’s debt would have been decrease below a Coalition authorities if Labor had misplaced out on the current state election, a post-election report says.
The Parliamentary Budget Office’s report discovered the Coalition’s election platform was able to decreasing internet debt by 6.2 per cent in 2025-26, in contrast with the debt forecast within the newest finances replace.
Labor’s plan was forecast to cut back debt by 0.6 per cent below its election plan.
However, the state’s debt has skyrocketed in recent times, with the report displaying that by 2025-26 it might stay at a stage greater than 4 occasions greater than in 2018-19.
While Victoria’s internet debt can be decrease in 2026 than the most recent finances predicted below both social gathering, the variations represented “relatively modest reductions to a continued increasing net debt forecast position over the medium term”, the report stated.
Regardless of what social gathering was in energy, the finances workplace anticipated Victoria to retain the very best internet debt to GSP ratio of any Australian jurisdiction – greater than 50 per cent greater than the second-highest state.
“This means that in the 60th parliament, either party would need to dedicate a greater proportion of revenue to servicing the debt burden than in the last parliament,” the finances workplace stated.
Labor introduced 82 insurance policies and the Liberals and Nationals introduced 112 forward of the November state election, with Labor in the end arising trumps.
As for coverage areas, well being and financial affairs got here within the high two for finances impression.
