Published: November 21, 2018
Late confirmation Labor will borrow for infrastructure and double state debt
The Andrews government will borrow $25.6bn over the next 10 years to build its flagship infrastructure projects if it is re-elected on Saturday, doubling Victoria’s net debt from 6% to 12% of gross state product.
The treasurer, Tim Pallas, confirmed the figures on Thursday, two days before voting closes, saying the government had received advice that it could afford to increase debt without risking the state’s triple-A credit rating.
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