Victoria’s debt boom is a stark reminder that when it comes to spending, Australian states have few brakes and even fewer boundaries.
What has been missing from the recent debate about government spending is a recognition of how stark the deterioration in Australia’s state government finances has been on a global scale, and the institutional features that have given rise to the states’ era of profligacy.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.