Carlton Supporters Club

Quote from: Gointocarlton – on May 07, 2025, 09:16:44 pm

Victoria is virtually bankrupt thanks to Labour.

Virtually bankrupt isn’t the same as actually bankrupt … and don’t forget that it was the Morrison Government that encouraged Victoria to embark on its capital works program.  That program will have long lasting benefits for Victorians for many years to come and it’s an indictment on previous governments that have lacked the foresight and will to build for the future. 

“Virtually bankrupt” is a stretch too and Victoria’s finances are in a much better state than the opposition and the Murdoch press would have you believe. 

The Australian Institute, under the headline, “Sorry media, neither Victoria’s budget nor its economy is in bad shape” makes the following points:

“The media like to point to Victoria’s debt and deficit but they do so by including government fixed capital investment in the deficit. This might seem to the layperson as perfectly reasonable, but it is not how accounting works in the private sector and it presents a distorted picture of the state of the budget.

Including capital investment in a similar manner would, for example, see BHP’s 2024 profit drop from its declared US$20.7 billion to a marginal US$0.2 billion. Many other profitable companies would be in deficit were their budgets measured in the same way that now has the media suggesting the Victorian state finances are in deep trouble.”

Victoria's credit rating has dropped meaning higher rates for any future borrowings and the net debt will continue to increase.
Victoria is now the fourth-most-indebted state government from advanced economies outside the US in absolute dollar terms, you can dress the accounting up anyway you like but the only measure that matters is debt as a proportion of government operating revenues. By 2027, Standard and Poors estimates Victoria’s debt will have climbed to a scary 214 per cent of operating revenues.
Not that other States are travelling great either with only WA doing ok and Australia is only seen as reasonable as European Sovereign countries are doing worse than our States and countries like Canada are even worse although they are all still trotting out CoVid as the excuse.
I cant see any way out for Victoria and even NSW unless the Federal Government foot the ballooning very large infrastructure projects bill and take over more of the States operating costs. In some other countries like the UK and France the Central Government pays up to 80% of the budget to run the country unlike Australia where the States have to chip in a lot more but get the opportunity to set their own taxes, borrow from who they like etc, maybe that system has to change.

Victoria's credit rating has dropped meaning higher rates for any future borrowings and the net debt will continue to increase.
Victoria is now the fourth most indebted state government from advanced economies outside the US in absolute dollar terms, you can dress the accounting up anyway you like but the only measure that matters is debt as a proportion of government operating revenues. By 2027, Standard and Poors estimates Victoria’s debt will have climbed to a scary 214 per cent of operating revenues.
Not that other States are travelling great either with only WA doing ok and Australia is only seen as reasonable as European Sovereign countries are doing worse than our States and countries like Canada are even worse although they are all still trotting out CoVid as the excuse.
I cant see any way out for Victoria and even NSW unless the Federal Government foot the ballooning very large infrastructure projects bill and take over more of the States operating costs. In some other countries like the UK and France the Central Government pays up to 80% of the budget to run the country unlike Australia where the States have to chip in a lot more but get the opportunity to set their own taxes, borrow from who they like etc, maybe that system has to change.

Quote from: Gointocarlton – on May 07, 2025, 09:16:44 pm

Victoria is virtually bankrupt thanks to Labour.

I don't know. I'm no expert. I just pass on what I've read, and others can form their own opinions :

https://australiainstitute.org.au/post/sorry-media-neither-victorias-budget-nor-its-economy-is-in-a-bad-shape/

Others do form an opinion....and it's usually one not based on facts and figures but propaganda.

Even taking into account some of what eb1 said, the Labor government's spending on rail removal and other vic wide road/rail projects might cost us plenty and put us into debt, but it's also something that will improve the quality of life for many around greater Melbourne and beyond.

You can't keep papering over cracks, eventually you need to bite the bullet and spend some money in fixing things and that is exactly what we've done under the Labor government.
This household has definitely seen the benefits of this in terms of road and rail upgrades, finished and ongoing in multiple different areas.
Generational changes.

My son's colorectal clinic at the RCH just got shut down because we're broke.
The spin doctors (not the real doctors) say it won't effect their care but my son was born before they established the clinic and it was a nightmare I wouldn't wish upon anyone.

My son's colorectal clinic at the RCH just got shut down because we're broke.
The spin doctors (not the real doctors) say it won't effect their care but my son was born before they established the clinic and it was a nightmare I wouldn't wish upon anyone.

.............................................................
The bottom line is that we need taxation reform so that governments can fund the infrastructure and services that the population needs.  Will Albo's decisive victory pave the way for tax reform?

Quote from: madbluboy – on May 08, 2025, 10:19:24 am

My son's colorectal clinic at the RCH just got shut down because we're broke.
The spin doctors (not the real doctors) say it won't effect their care but my son was born before they established the clinic and it was a nightmare I wouldn't wish upon anyone.

Sorry to hear that MBB. This sort of thing should not be happening in Australia, and it seems inconceivable that some combination of State / Fed / Labor / LNP cannot sort this out. I don't much care what a person's politics are, this is not on.

https://www.abc.net.au/news/2025-02-19/colorectal-and-pelvic-reconstructive-service-closure/104950482

The CPRS is closing after a $5.9 million 2019 federal grant came to an end.

The closure has triggered an outpouring of shock and protests from parents whose children use the service, and Ms West said it would rob parents, particularly in the regions, of vital support and guidance.

..................................................The big question is, do they need additional funding or do they need to have a look at what they are doing with the funds they get and potentially make better decisions surrounding it?

Greens leader Adam Bandt has finally conceded his seat to the ALP but not before giving the Liberals a clip for giving their preferences to the ALP, of course Mr Bandt won his seat previously on the back of LNP preferences but he failed to acknowledge that in his concession speech. Given the Greens will be the sole handbrake on the ALP in the upper house it will be interesting to see who they elect as leader and if they are up the responsibility they have been given.