Tuesday, 27 May 2025

Economy

Georgie CROZIER (Southern Metropolitan) (13:37): Victoria’s net debt will reach a staggering $194 billion by 2028–29. That is just in a couple of years time. That is just an extraordinary amount of money. Interest payments on Victoria’s debt will cost taxpayers $36 billion over the next four years. That is $29 million every day and over $1 million every hour. That is Labor’s debt. That is Labor’s legacy to the Victorian community. But it gets worse. As others have said, the emergency services levy is hitting every property owner across the state, whether they have a business, a home, a property or a farm, and those farmers and CFA volunteers were on the steps last week where there were no Labor members, no Premier, no Treasurer – both the Premier and Treasurer, who represent regional Victoria, shamelessly were not there. They should hang their heads in shame for the shocking financial situation that Victoria is in and the debt burden they are leaving generations of Victorians. But it is not only that: $2.4 billion cut secretly out of public schools, the Suburban Rail Loop not even itemised – to be confirmed – in the budget, the list goes on.