Saul Eslake audit finds Victorian household income lagging behind Tasmanians for the first time

Household income in Victoria has fallen behind Tasmania for the first time, according to a comprehensive audit of the state’s finances by economist Saul Eslake, who predicts voters will face major spending cuts and further tax increases to pay off debt.

Victoria has fallen from the richest and most powerful state for much of the last century to the bottom or near the bottom on a range of key economic indicators; Mr Eslake attributes this mainly to inflated spending beyond the government’s means and cellar-dwelling productivity performance.

Loading…