Daniel Andrews has responded to questions about Victoria's high debt as 'balancing the sheet for households' and 'boosting the economy' as he stressed it was time the state spent money to 'build' its way out of the coronavirus pandemic.
The mid-financial year budget update released last Monday revealed that Victoria's budget deficit is $1.82 billion higher than previously forecast in May.
Mr Andrews defended record spending on infrastructure as pivotal to boosting the economy after the state suffered from a severe revenue downturn during the COVID-19 pandemic. Melbourne was hardest hit by the COVID-19 lockdowns over 2020 and 2021 and faced the strictest pandemic restrictions anywhere in Australia.
“There is a very large infrastructure commitment, and the pressure is growing nearly daily via new announcements. We are trying to figure out how parties will fund this.”
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