Thursday, 31 August 2023

Economy

Joe McCRACKEN (Western Victoria) (17:46): (458) My adjournment matter is for the Treasurer, and it relates to Victoria’s staggering debt levels. The action that I seek is an assurance that our debt will not be added to in the future. $226 billion by 2026–27 – that is interest of $22 million a day, and I tell you, I have got an interest in interest. Imagine what we could do in a week.

Let us just start off this beautiful benevolent dictatorship of Joe’s week. On Monday we would start off with car parks. We know we can do $2 million for 1000 car parks. Let us spend $22 million and do 11,000 car parks in Ballarat – why not? On Tuesday – we just spent $6 million on Fed TAFE – why not build a whole new different campus for Fed TAFE for $22 million? Wouldn’t that be great? Wednesday is schools day, I think. We just spent $8.6 million on upgrading Woodmans Hill school in Ballarat East. Well, we could upgrade nearly three schools just on Wednesday in Ballarat. How good would that be? Thursday is sports day – not my speciality, but I am going to have a crack at it anyway. Just in the last budget we saw $1 million dedicated to the Brown Hill rec reserve upgrade. Jeez, $1 million to all the rec reserves, and I have got a list of them too. Alfredton, you get $1 million; Buninyong, you get $1 million; Pleasant Street, you get $1 million; Vic Park, $1 million; Burrumbeet rec reserve, $1 million; Trekardo Park, $1 million; Learmonth rec reserve, $1 million. And I have only gone through seven, with $15 million left. I am going to have to go into Ararat, Stawell, Maryborough, Geelong – I have just got so much money. Jeez, I know why they just spend it now. It gets addictive, doesn’t it? Friday is roads day. I do not even think $22 million is going to hit the sides when it comes to roads, is it, Mrs McArthur? We are not going to get far at all.

You know, on the weekend maybe we could have a rest. I know in the latest state budget there was $42 million that was meant to be collected in the windfall gains tax, so how about over the weekend we just slash that out? I know I think about cutting taxes on the weekend, and I bet everyone else does here as well. You know what we could do as well? I think if we spent $22 million in one day, we could buy about 44,000 tickets to Taylor Swift. I mean, imagine what that would do for the state. But of course none of this is possible because we have to pay it on interest repayments, not things that people would actually enjoy. What a disgrace. I would love to go to Tay Tay. You would too, Ms Shing; I bet you would. We could all go together and have a nice time as a Victorian community –

A member interjected.

Joe McCRACKEN: I know you do too. It would be great. But we cannot because we are stuck paying it on interest repayments. What a shame.