Victorian Treasurer Tim Pallas seems surprisingly chipper for someone sitting on so much debt, especially now the international credit rating agencies are keen to give him some stick | OPINION from David Hayward, Emeritus Professor of Public Policy at RMIT
Despite Victoria having the longest lockdowns, the state is growing at a good clip. The Commonwealth Bank in its latestreport reckons our economy has won the silver medal, with NSW trailing well behind in seventh.
The unemployment rate in the regions is at record lows, and in Melbourne next year it is likely to start with a number 3, the first time it’s been that low for at least a generation. That’s no coincidence. It reflects the reality of a changed global economy. For the last decade, the world has had a, caused by the rich getting far too much of the income pie, people ageing and companies’ profit share climbing to new highs.
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