Daniel Andrews blames Victoria’s huge pandemic debt on RBA interest rates advice

Victorian premier Daniel Andrews says national cabinet received briefings early in the pandemic suggesting interest rates would not rise. Photograph: Diego Fedele/AAP

The Victorian premier has blamed advice provided to national cabinet by the Reserve Bank governor, Phillip Lowe, for the huge borrowings undertaken by the government during the pandemic.

Ahead of a state budget that’s expected to slash spending across several portfolios, Daniel Andrews criticised the bank’s decision to raise interest rates for the 11th time in a year as “smashing families” and “causing real pain”.