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The Guardian - AU
The Guardian - AU
National
Peter Hannam

Victoria’s finances ‘weakest since 1990s’ as election sees yet more spending promises

political advertising A frames outside an early voting booth
Ahead of the Victorian election, the state’s finances are ‘in their weakest position since the 1990s’, according to financial analysts. Photograph: Ellen Smith/The Guardian

Profligate Coalition spending promises, a “build bigger” Labor campaign, and limited efforts by either major political party to rein in debt dominate the economic choices facing Victorians as they go to the polls, analysts say.

Victoria, which generates just under a quarter of Australia’s annual GDP, suffered the sharpest economic slowdown in the nation because of its lengthy lockdowns, leaving it with a bigger fiscal repair job, according to rating agency S&P.

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