Source: Department of Treasury and Finance.
Notes:
(a) Forecast expenditure for 2022-23.
(b) Excludes budget funding of $238.3 million in 2023-24 for COVID-19 impacts on the transport network as published in Budget Paper 3, 202324 Budget, Chapter 1.
(c) Excludes expenditure associated with Commonwealth Government co-contributions to represent expenditure incurred by the State contributing to COVID debt.
Different borrowings for different purposes
Victorians use different types of debt in their household budgets as well.
People often borrow to invest in assets like the family home, which then accumulates wealth as the value of the asset grows over time. In contrast, the credit card is used for emergencies that require significant and time cri…
Read the full article at: https://www.budget.vic.gov.au/strengthening-our-finances