Labor’s budget position is already in the red after posting a $805 million deficit three months into the financial year.
The Quarterly Financial Report No 1 – September 2019 confirmed that Daniel Andrews and Labor has completely lost control of its spending.
With at least $25 billion in budget blowouts for projects, the highest taxes of any state, a soaring wages bill and a commitment to double Victoria’s debt, it is clear that Labor has no plan to balance the budget.
In a week where the Auditor-General slammed Labor for its financial mismanagement, this is further confirmation that Labor cannot manage money or projects.
Labor is maxing out the State’s credit card, and when Daniel Andrews and Labor run out of money, they come after yours.
Comments attributable to Shadow Treasurer, Louise Staley:
“This is clear proof that Labor cannot manage money or projects. Victoria’s budget is in the red and is there for all to see.
“To run an $805 million budget deficit over just three months is just staggering. And now that they have run out of money, they will come after yours. This is Labor.
“Tim Pallas said our grandchildren would be paying off this debt, and at this rate their grandchildren will still be paying it off.”