Labor’s financial mismanagement has been blasted by the State’s Auditor-General in a report on Victoria’s finances released today.
With the State Government’s rapidly increasing debt and wages bill, Labor’s mismanagement is only going to get worse, with the report noting that government expenses are growing faster than revenue.
The Auditor-General states that as of 30 June 2019, Victoria’s state debt has risen 26.4% in just 12 months, from $49.8 billion in 2018 to a whopping $62.9 billion in 2019.
The State’s wages bill also drew the attention of the Auditor-General - “these costs, and the size of the workforce, steadily increased at rates well above comparable benchmarks over the last five financial years.”
In fact the Auditor-General’s analysis shows that the growth in Victorian public servants well and truly outstrips Victorian’s population growth.
With the economic challenges facing the state, Labor would do well to acknowledge these challenges instead of arrogantly dismissing this report. But with their addiction to spending and their inability to manage money and projects, the future looks bleak for Victoria’s finances with Daniel Andrews, Tim Pallas and Labor at the helm.
Comments attributable to Shadow Treasurer, Louise Staley:
“This is yet more proof that Labor cannot manage money and cannot manage projects. They’ve racked up another $13 billion on Victoria’s credit card in just 12 months.”
“It’s no wonder Daniel Andrews, Tim Pallas and Labor are trying to short change our police and other vital workers: they are running out of money quickly.
“Labor needs to stop spending and start managing Victoria’s finances properly and prudently, before we see another disaster like Victoria suffered under Cain and Kirner.”