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Victorian Election Promises Risk AA Rating And Add To Price Pressures

AUSTRALIA

S&P Global Ratings have said that the current election “spend-athon” and infrastructure spending plans in Victoria could put pressure on the state’s AA rating and that there is a risk of a further downgrade if projections are not realised, according to The Australian.

  • There is also concern that as Victoria is Australia’s second largest state economy that its spending plans could add to inflation and the RBA’s job of fighting it.
  • S&P Global stated that Victoria has the “weakest budget position by far” of all the Australian states and that it is concerning that many of the election promises are currently unfunded.
  • Victoria’s net debt is projected to be A$167.5bn in 2025-26, which would be higher than New South Wales, Queensland and Tasmania put together at A$159.2bn. (The Australian)
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