Original article by Gus McCubbing, Patrick Durkin
The Australian Financial Review – Page: 6 : 26-Nov-24

Victoria’s auditor-general warned on Friday that the state’s finances were not sustainable, with gross state debt expected to pass $228 billion by 2028. With a review by economist Saul Eslake finding that Victoria has gone from being the richest and most powerful state over much of the past century to being one of the poorest against a range of indicators, including household income, CSL chair Brian McNamee says a number of leading fund managers have told him that Victoria is currently uninvestable. Former Victorian premier Jeff Kennett, who has a nine-point plan to turn Victoria’s finances around, says the Andrews-Allan Labor government is the worst the state has ever had to endure in economic terms.

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