Wednesday, 31 August 2022

 Mr LIMBRICK (South Eastern Metropolitan) (12:27): My question is to the minister representing the Treasurer. I note that in the run-up to the election both the government and the opposition are making a large number of significant spending commitments. I also note that due to inflationary pressures bond yields are rising steadily over the medium term, making it far more expensive to raise debt. I am concerned that this may eventually put our state in a perilous financial position, so my question to the Treasurer is: what measures is the Treasurer taking to reduce state debt?

 Ms SYMES (Northern Victoria—Leader of the Government, Attorney-General, Minister for Emergency Services) (12:27): Thank you, Mr Limbrick. There is a lot in that, and I am sure the Treasurer will be delighted to provide you with an equally comprehensive response.

 Mr LIMBRICK (South Eastern Metropolitan) (12:28): I thank the Attorney for passing that on to the Treasurer. My supplementary question is quite simple: when will our state be out of debt?

 Ms SYMES (Northern Victoria—Leader of the Government, Attorney-General, Minister for Emergency Services) (12:28): It sounds like a simple question, but there are a range of factors that go into—

Ms Shing: He would know that.

Ms SYMES: Yes, I am sure he does know this. There are a range of factors in relation to the different accounting measures, what is considered debt in terms of borrowing and what is considered asset output. There are a lot of different things that would—

Members interjecting.

Ms SYMES: You guys interject more on crossbench questions than on your own.

Ms Shing: You wish you’d thought of them yourself.

Ms SYMES: Possibly. They are good questions. I am sure the Treasurer would—

Members interjecting.

Ms SYMES: I will just repeat my answer to your substantive question: the Treasurer will be delighted to provide you with further details, Mr Limbrick.