On Tuesday Tim Pallas will hand down his last budget and a budget that says everything about the failed Andrews era.
Tuesday 7th May 2024 will be a bloodbath in Victoria. All the debt, all the waste, all the mismanagement, all the lies about funding and money will be on full display.
This budget is the culmination and final verdict on the Andrews era. What Victorians will finally understand is that Andrews conned the state. Andrews has robbed Victoria of its future. Andrews has ridden off with his loot into the sunset never to want for anything in his future life.
By 2027 interest expenses are likely to be about $24 million per day. For the year that is likely to be about $8.8 billion
That is equivalent to building 4 EastWest Link Freeways.
Be in no doubt Daniel Andrews has crippled Victoria for generations to come.
But consider this. Currently Victorian hospitals are about $3 billion in deficit which needs to be funded by 30th June 2024 so they can balance their books for end of financial year.
Massive cuts are coming that will impact on front line services and.
The Airport Rail Project will be cancelled due to no funding and now the tourism sector is expecting massive funding cuts that will impact more than 90,000 small businesses who mainly operate in regional areas.
Talk to anyone who drives interstate and they will tell you Victorian roads are akin to the third world.
Victoria is broke but worse Victoria ia a very unhappy place and that is the result of 10 years of Andrews thuggery.
See Tourism Report below.
************************************************************************************ State Budget: Allan government pegged to slash millions from Victorian tourism sector
Victoria’s tourism sector is bracing for tens of millions of dollars to be ripped from the budget as the Allan government tries to curb the state’s soaring debt levels. Shannon Deery
May 5, 2024 - 5:00AM
Sunday Herald Sun
Sky News host Steve Price says Victorians will be reminded of "how broke their state really is" with the budget to be delivered next Tuesday by Treasurer Tim Pallas. "It will be his 10th try … at managing the finances of Australia’s second-biggest state by population," Mr Price said. "Incredibly, Pallas has vowed to stay on to present another budget next year. "Tim Pallas, what a joke – how could anyone with any sense of pride keep overseeing the financial destruction of the state they are in charge of? "Tim Pallas will inevitably increase taxes on Victorians next week."
Victoria’s tourism sector is under threat with the Allan government expected to slash funding in Tuesday’s state budget.
The Sunday Herald Sun can reveal tourism bodies are bracing for tens of millions of dollars to be ripped from the budget as treasurer Tim Pallas wields the axe in an effort to rein in spending and curb the state’s soaring debt levels.
Industry insiders said Visit Victoria, the agency tasked with promoting the state, is facing significant cuts, while regional tourism bodies have been told campaigns and advertising all face the axe.
Informal budget briefings warned tourism bosses to reconsider future spending and not enter into any new contracts.
“Any activity not already formally contracted will likely not proceed,” one senior source said.
“Existing contracts will be honoured, but nothing else will be going ahead and nothing new will be commenced.
“We are expecting a shit sandwich”.
Experts warn Victoria’s visitor economy would take a hit without significant state government investment. Picture: Michael Kai
The feared mass funding cuts could threaten thousands of jobs and the viability of some of the state’s 96,000 tourism businesses, they said.
Tourism minister Steve Dimopoulos told a parliamentary inquiry last year those businesses were heavily reliant on state government funding.
Visit Victoria’s budget last year was an estimated $55m, made up of $32.5m in destinational marketing, and a further $20m in operating costs.
“There are 96,000 tourism businesses in Victoria which rely on that investment. In fact 15 per cent of all businesses in this state are tourism businesses,” Mr Dimopoulos said last year.
“They are mainly small businesses with less than 20 staff who cannot really do the same level of work – they do not have $32.5 million in destination marketing.
“They rely on word of mouth. They rely on our funding pool but also our relationship with Tourism Australia.”
Latest data shows tourism spending in Victoria has hit a record high with visitors pouring an unprecedented $37.8bn into the state economy in 2023 — $5.4bn higher than pre-Covid 19 levels.
While Melbourne was the most popular destination for interstate visitors, Victoria sits in third place for total tourism spend in the country after Queensland and NSW.
Tourism executives have warned Victoria is unlikely to improve on that position without significant investment from the Victorian Government.
Victoria’s tourism recovery is lagging behind New South Wales and Queensland. Picture: Josie Hayden
Tourism Research Australia has forecast Victoria’s visitor economy has the potential to grow a further $16 billion to $53 billion by 2028.
However, that would rely on significant investment to grow demand from interstate visitors.
Opposition tourism spokesman, Sam Groth, warned against cutting tourism funding.
“With Victoria’s tourism recovery lagging severely behind that of NSW and QLD, cuts to funding for our tourism bodies are not the answer,” he said.
“Labor cannot manage money and by desperately cutting funds to an industry that is a key driver of local jobs and economic opportunity, Victoria will only fall further behind other states.”
Refusing to comment on Tuesday’s budget, a government spokesman said a raft of current initiatives were building on investments in Victoria’s visitor economy.
“We know our tourism operators are the lifeblood of so many communities across Victoria,” she said.
“That’s why we’re investing in experiences, attractions, industries and partnerships that make Victoria a tourism drawcard.”
“Our strong investment in Victoria’s visitor economy and blockbuster major events has generated a new record high of $37.8 billion in tourism spending in Victoria in 2023 – $5.4 billion higher than 2019 levels.”
The expected tourism cuts would come against the backdrop of blowouts on the North East Link, West Gate Tunnel and Suburban Rail Loop. Picture: NCA NewsWire
Major credit agencies have warned Victoria faces further rating downgrades unless it was able to show it could curb spending and improve the state’s bottom line.
S & P Global Ratings analyst Anthony Walker said he expected the state’s overall debt position to continue to rise on the back of the government’s infrastructure program.
Mr Walker said pressure on the state’s credit rating could also rise if blowouts continue on the North East Link, West Gate Tunnel and Suburban Rail Loop.
“Pressure on the rating will intensify if the government can’t outline a creditable strategy to return the budget to a cash operating surplus and narrow its fiscal cash deficit, which includes infrastructure spending,” he said.
“Victoria’s credit quality is underpinned by its wealthy economy and strong national institutional standards on a global scale.”
Shannon Deery
