Let’s not break out the champagne just yet. That $600 million “surplus” is an operating surplus, it doesn’t include the billions still bleeding out through capital works and debt servicing.
Victoria’s net debt is still skyrocketing, heading toward $187.3 billion by 2028, and we’re still running cash deficits when you factor in infrastructure blowouts and project delays.
It’s like claiming you’re saving money because your everyday groceries cost less this week, while ignoring the fact that your credit card is maxed out and you just took out a second mortgage.
A win?
Only if you squint hard enough and ignore everything else on the balance sheet.
it doesn’t mean the books are balanced long-term, and it definitely doesn’t mean debt is under control. Debt is up and climbing.
It’s like saying you had a great month saving money while ignoring the 30 credit cards you maxed out.