Original article by Patrick Durkin, Gus McCubbing
The Australian Financial Review – Page: 11 : 13-Nov-24

The Victorian government’s budget update shows that the state’s net debt is slated to top $188bn by 2027-28. The update also reveals that the government’s Covid debt levies are expected to raise $529m more over four years than had been forecast in the 2023 budget. The levy on businesses with payrolls exceeding $10m had been expected to raise $3.9bn over four years, and the levy on property investors was slated to raise $4.7bn. Meanwhile, the government’s employee expenses rose by 7.94 per cent to $15.48bn in 2023-24.

CORPORATES