...to hell with our children's taxation levels, lets not just spend their inheritance, but also their income today.
... NO government services or programs have actually been cut...Wow, and all they had to do was DOUBLE Victoria's state debt.
Spoken like a true conservative.
The only fan of the Baillieu/Napthine do nothing government...is that why you moved to SA...way too much progress on this side of the border
For you Shane...and our friend Don over in AA land in SA.
I thought you were not coming back?
I'm not against borrowing, there is a time and a place.
- A house for most people is a once off investment, hence you borrow, you buy, you pay it off, done!
- The problem is too many govt, ALP ones being typically the worst, borrow for what is basically recurring outlays/projects. So you end up in a cycle of it never ending. The biggest challenge that has faced the bulk of LNP govts across most of the country is that they repeatedly have to fix the previous govts financial situation before they can do anything, "visionary". ie Mikey you will remember the basket case handed over by Caine.
Take the Metro project for example, fine, borrow, build and then spend 20-30 years paying it off. However what about Metro2, Metro3 etc projects. If the time frame for these projects and/or the borrowings for the first one is too high, you will eventually get to a position when you can do nothing for up to a decade or more because you are still paying down the first Metros. Greece is an extreme example and you risk cutting spending on day to day costs, such as schools, PT. This is what Kennet had to deal with.
Closer to home, Qld is currently another. It debt repayments currently exceed the construction outlays for the CRR, a project sidelined for nearly 10 years because the state couldn't borrow more.
Yes interest rates are low, now! But for how long, what is the time frame to repay the debt? Why cannot the state fund these projects without debt, NSW not only did but also repaid it debt in the same time frame.
Some of these questions may lead to answers that state, yes maybe we should wait a bit longer on some of the projects.
The fact that people ask Andrews about the debt levels means there is a growing concern about what he's doing and what legacy he will leave Victoria.