‘Debt is fine as long as it is manageable’: Jeff Kennett discusses the budget

Jeff Kennett has weighed in on Victoria’s rising debt and the state budget saying “debt is fine as long as it is manageable”.

“What has happened since is that the government believes whatever you borrow is inconsequential, as long as you are meeting some of the needs of the community, but as we know and as we have found out, the cost is not borne by the government or the ministers that make this decision, the debt is borne by the community of Victoria,” he told Tom Elliott.

Press PLAY to hear what Jeff Kennett has to say about the budget

The former premier said that debt is twice the size of the government’s revenue leaving the government’s attempt to reduce the debt “negligible”.

“The interest on that debt will continue to grow which will mean that debt will continue to grow,” he said.