Media Release

13 November 2015

O’Brien: Tim Pallas caught ‘taking out the trash’ – net debt up bu $673 million

Friday 13 November 2015

 

Tim Pallas caught ‘taking out the trash’ – net debt up by $673 million

Daniel Andrews and Tim Pallas have tried to conceal a massive blow out in Victoria’s debt under Labor.

The 2015-16 Quarterly Financial Report No 1 was dumped late on Friday afternoon and showed that in the 3 months to 30 September 2015, Victoria’s net debt blew out by $673 million to total $23 billion.

This comes after last week’s financial report exposing net debt increasing by $1.1 billion in the year to 30 June 2015.

Under Labor, debt is climbing while the budget has gone into deficit and the cost of tearing up the East West Link project continues to blow out.

Victoria’s budget is in serious jeopardy as a result of Daniel Andrews’ reckless financial management.