If one chart were to summarise the Victorian government’s transformation from fiscal conservatism to sabotage, it is the following, showing the explosion in the state’s net debt:When Daniel Andrews’ Labor government took office in late 2014, Victoria carried a net debt of around $21 billion. As of 2025, Victoria’s net debt had exploded to $155.5 billion, and the state budget expects it to soar to nearly $200 billion by 2029. Advertisement

Source: The Guardian April 08, 2026 16:01 UTC