Premier Jacinta Allan’s track record is riddled with financial blunders, project mismanagement, and an alarming inability to rein in the escalating state debt.
According to the latest budget projections released in recent days, Victoria’s net debt is expected to reach $177.8 billion by mid-2027. This reflects a rise of $6.4 billion compared to the budget presented just six months ago in May.
Based on earlier Treasury forecasts, within four years the state is expected to be allocating nearly $170 million per week – totalling $8.8 billion annually – solely to fulfill its interest obligations on debt.
Locating a project within the state that adhered to its budget under the Allan Labor Government is a challenging task – and it has widespread effects beyond the city limits.
Premier Allan, serving as both the Minister for Infrastructure and the Minister for the once-anticipated Commonwealth Games, bears responsibility for almost all statewide cost overruns. The cancellation of the Games has led to an extra $600 million of taxpayer funds being wasted.
Unfortunately, there’s limited noteworthy activity in regional areas, and funds are being diverted to Labor’s city-centric pet project cost overruns, escalating our state debt which regional Victorians are also required to contribute to.
The Northeast Link’s staggering $21.1 billion blowout is just the latest cost overrun by this government.
The Westgate Tunnel and Melbourne Metro Tunnel have also encountered multibillion-dollar overruns.
Then there is the Suburban Rail Loop which cost remains uncertain, as initial estimates of $50 billion have been surpassed by Independent Parliamentary Budget Office calculations, projecting a cost of $150 billion.
Amid a housing crisis, rising living costs, a broken health system, and declining education standards, the Allan Labor Government persists in recklessly spending taxpayer funds on city projects, ignoring the ballooning state debt and the demand for vital services.
Premier Allan can’t manage money, can’t manage projects and can’t manage to rein in the escalating state debt, let alone keep a project on budget.
Peter Walsh MP
Leader of The Nationals