Victoria’s budget deficit blows out to $19.5b, despite forecast of $27.7b in tax revenue

Victoria’s budget deficit is predicted to blow out to $19.5 billion this financial year, an increase of nearly $8 billion in the shortfall between revenue and spending the state government predicted in May.

Revenue from the government’s two main property taxes, stamp duty and land tax, are tipped to soar this year by nearly 20 per cent to $7.7 billion and by 32.6 per cent to $4.3 billion in 2021-2022. “The economic upswing is well and truly underway. We are in an extremely strong position to recover,” Mr Pallas said.

Source: Loan Digest (loandigest.net)

noeltowell Gee just cut the 20 million in Pollie salary increases.

noeltowell Most of it is ads. Forget the big build. This government is all big campaign.

noeltowell There comes a point when your income is less than your outgoings. Victoria is in that position. It's simple maths. The problem with socialism is that you run out of someone else's money.

noeltowell

noeltowell Deficit rhetoric has only ever been about justifying public austerity. Beyond having no serious economic consequences for the state, fed, or anybody else, police spending is exploding without even the slightest hint of concern. PublicAusterityMilitaryKeynesianism

noeltowell SACK DAN ANDREWS!!! Good for nothing dirty grub

noeltowell Federal Deficit = You know, for 'balance' 🙄 NineEntertainmentLNP ThisIsNotJournalism Propaganda Rag 101

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