Victoria's debt heads to $200 billion as election nears
Victoria's net debt is forecast to reach $200 billion by 2030, with interest consuming 23 cents of every tax dollar.
Victoria's debt has ballooned from about $22 billion a decade ago to $165 billion today under Labor. Premier Ben Carroll, who took office in July, is promising to follow the infrastructure legacy of Sir Henry Bolte.
Experts are split on whether the debt is manageable. The Coalition opposes the spending and pledges a cash surplus by 2032 through tax cuts and a hiring freeze on public servants.
Labor hasn't set a surplus target but plans to save more than $2 billion by trimming the Suburban Rail Loop. Interest repayments already cost almost double what the state spends on police and will match school spending by decade's end.
The election, weeks away, will decide Victoria's fiscal direction.
- $165 billion
- Current net debt
- $200 billion
- Forecast debt by 2030
- 23 cents per tax dollar
- Interest cost ratio
- $2 billion
- Labor's Suburban Rail Loop savings
Why it mattersInterest costs are crowding out spending on nurses, doctors and road maintenance. Victorians will vote partly on which party they trust to manage the debt burden.
AustraliaVictorian voters will choose between Labor's continued infrastructure spending and the Coalition's austerity approach. Schools, hospitals and services depend on the outcome.
✓ Claims checked against the source. checked 1 h ago
