Jacinta Allan - 49th Victorian Premier.

[TheEscapeClub]

$15 million just to service interest costs per day, a figure that will climb to $25 million per day by 2027.

Don't forget the $1.6m to $1.8m per day for the desal plant for about another 20 years.

 

[Rob R]

Nobody believes that Labor = Bad with money. Liberal = Good with money myth anymore.

I think the liberal is good part has been disproved. Vic ALP has certainly proven that they are bad with money, integrity etc

On SM-A125F using BigFooty.com mobile app

 

[Carn The Berries]

By that logic. JFK doesn't have an airport train. Just a people mover/Light rail connecting the train stations nearby.



From grade 3 to 6 there was a camp every year at my primary school. This was a government primary school I'd imagine others do simulator

Hence why I said it seems a lot for early Primary years...

 

[Art Vandelay_]

You evidently get to be the longest premier by being a control freak, lying megalomaniac, who has a cult like following amongst Labor diehards, who worship him like a god rather than open their eyes to the truth of the financial debacle he has left the state in. It is not a short term mess anymore, it will inflict multi generational hurt on Victorians!

Don't forget the regional votes he swindled last election by promising Comm Games that once the votes re-elected him he promptly cancels citing costs, something that would have been known when they won the rights.

His actions should see Labor get absolutely slaughtered in the regional vote next election.

 

[Todman]

People are beginning to understand the impacts of the ever mounting debt now, because the government can't rely on 1% interest repayments anymore..... If only Labor had understood that 7 or 8 years ago.

the problem for Labor was, Biden got elected to the White House and released the inflation genie and Albo in a bid to be popular feed it with his policies.

 

[The Punter]

Don't forget the regional votes he swindled last election by promising Comm Games that once the votes re-elected him he promptly cancels citing costs, something that would have been known when they won the rights.

His actions should see Labor get absolutely slaughtered in the regional vote next election.

I think the Liberals have made a mistake electorally by treating certain regional seats as being different from Melbourne.

I would suggest the sort of campaign that would work in the inner-mid ring Melbourne suburbs would be entirely appropriate in the seats in and around Geelong, Ballarat and Bendigo.

The rest of the country seats are already held by the Coalition.

 

[Sttew]

Don't forget the regional votes he swindled last election by promising Comm Games that once the votes re-elected him he promptly cancels citing costs, something that would have been known when they won the rights.

And then telling everyone cancelling the Games was not a difficult decision. Jacinta’s problem is that she was an integral part of this scam.

 

[JackFlash]

Albo is in town and swaps akubra hats for hard hats as we piddle more money down the drain on projects we will be paying for until the second coming! Does anyone else hear the voice of Bugs Bunny when he talks?

 

[TheEscapeClub]

Don't forget the regional votes he swindled last election by promising Comm Games that once the votes re-elected him he promptly cancels citing costs, something that would have been known when they won the rights.

His actions should see Labor get absolutely slaughtered in the regional vote next election.

I had a quick look at this when they cancelled the games. From memory, in all the seats where the games were to be held, the Labor primary vote dropped.

Maybe that's why he cancelled them, out of spite.

 

[The Punter]

I had a quick look at this when they cancelled the games. From memory, in all the seats where the games were to be held, the Labor primary vote dropped.

Maybe that's why he cancelled them, out of spite.

The Labor primary vote dropped almost everywhere last election. Causation, correlation and all that.

 

[Pakenhamsaint]

I had a quick look at this when they cancelled the games. From memory, in all the seats where the games were to be held, the Labor primary vote dropped.

Maybe that's why he cancelled them, out of spite.

The major 2 in general are dropping primary vote wise.

It's been a slow burn but people are voting other candidates

 

[Pakenhamsaint]

You believe the Andrews and Allen governments have been good with money?

I see a s**t ton of infrastructure. That's where the money went.

That infrastructure build put people in jobs. More people in jobs more taxpayers

 

[Sttew]

I see a s**t ton of infrastructure. That's where the money went.

That infrastructure build put people in jobs. More people in jobs more taxpayers

I see a s**t tonne of infrastructure too none of which has come in anywhere near budget. NE Link currently $10B over budget. Westgate Tunnel $4.7B blow out. Metro Tunnel $1.4B blow out. Cost over runs happen, but by billions? Yes, the 'Big Build' has put people in jobs, mostly Labor's 'silent' partner, the CFMEU.

Add to budget blowouts, $600M+ to get out of the Comm Games. $1B already spent on the Airport Link which is now all but canned.

Is it any wonder nobody outside the ALP has any confidence in the SRL Stage 1 coming in anywhere near $35 B?

The problem with the Andrews / Allen governments is that due diligence, transparency, prudence and accountability are foreign concepts that they believe do not apply to them.

 

[Pakenhamsaint]

I see a s**t tonne of infrastructure too none of which has come in anywhere near budget. NE Link currently $10B over budget. Westgate Tunnel $4.7B blow out. Metro Tunnel $1.4B blow out. Cost over runs happen, but by billions? Yes, the 'Big Build' has put people in jobs, mostly Labor's 'silent' partner, the CFMEU.

Add to budget blowouts, $600M+ to get out of the Comm Games. $1B already spent on the Airport Link which is now all but canned.

Is it any wonder nobody outside the ALP has any confidence in the SRL Stage 1 coming in anywhere near $35 B?

The problem with the Andrews / Allen governments is that due diligence, transparency, prudence and accountability are foreign concepts that they believe do not apply to them.

Projects blowing out isn't exclusive to just Victoria nor just Labor.

NSW:

NSW government launches Sydney Metro review amid $21bn cost blowout

Independent review of train project will examine delivery models, governance and passenger impacts

www.theguardian.com

Sydney light rail project blows out to $2.9bn, almost double original cost

Transport minister Andrew Constance confirms project coming in at $1.3bn more than first forecast

www.theguardian.com

Even internationally:

Crossrail faces further delays and will cost more than £18bn

TfL says aim is for London rail link to open ‘as soon as practically possible in 2021’

www.theguardian.com

Hawaii Freeway 25 Years Overdue as Costs Spin Out of Control : Environment: Critics call it a 16-mile road to nowhere. Backers contend it will ease traffic congestion. But the price tag is more than 17 times the original estimate.

It may be the mother of all federal highway cost overruns.

www.latimes.com

Grady from Practical Engeering did a good explainer on why projects do over run thier planned budget

 

[Sttew]

Projects blowing out isn't exclusive to just Victoria nor just Labor.

NSW:

NSW government launches Sydney Metro review amid $21bn cost blowout

Independent review of train project will examine delivery models, governance and passenger impacts

www.theguardian.com

Sydney light rail project blows out to $2.9bn, almost double original cost

Transport minister Andrew Constance confirms project coming in at $1.3bn more than first forecast

www.theguardian.com

Even internationally:

Crossrail faces further delays and will cost more than £18bn

TfL says aim is for London rail link to open ‘as soon as practically possible in 2021’

www.theguardian.com

Hawaii Freeway 25 Years Overdue as Costs Spin Out of Control : Environment: Critics call it a 16-mile road to nowhere. Backers contend it will ease traffic congestion. But the price tag is more than 17 times the original estimate.

It may be the mother of all federal highway cost overruns.

www.latimes.com

Grady from Practical Engeering did a good explainer on why projects do over run thier planned budget

I should have seen this coming!! Point well made. However, no other state of Australia has amassed debt like this state, nor am I aware of any state having amassed record debt and still ploughing on with a massive capital infrastructure project (SRL) for which we have seen no business case or detailed budget.

I heard Tim Pallas on the radio yesterday. He was asked whether he expected credit rating agencies to downgrade Victoria's credit rating further. He sounded nervous and said he didn't think so. When he was pressed he conceded it was a possibility and this had not been factored into forward estimates.

 

[Pakenhamsaint]

I should have seen this coming!! Point well made. However, no other state of Australia has amassed debt like this state, nor am I aware of any state having amassed record debt and still ploughing on with a massive capital infrastructure project (SRL) for which we have seen no business case or detailed budget.

I heard Tim Pallas on the radio yesterday. He was asked whether he expected credit rating agencies to downgrade Victoria's credit rating further. He sounded nervous and said he didn't think so. When he was pressed he conceded it was a possibility and this had not been factored into forward estimates.

Shouting "but the debt!" is just one of many Liberal Party classic talking points that gets trotted put every time Labor is in power.

No one is listening this time around.
Kos Samaras summed it up nicely

 

[Sttew]

Shouting "but the debt!" is just one of many Liberal Party classic talking points that gets trotted put every time Labor is in power.

No one is listening this time around.
Kos Samaras summed it up nicely

Kos Samaras, the former ALP strategist? Right!!

At the moment this government has to pay $15 million in interest every day of the year. That will rise to $25 million by 2027.

Think about that!

Meanwhile mental health services, Tourism Victoria, cancer research and a host of other services have had their budgets slashed, not to mention promised regional hospitals such as Torquay have been cancelled.

 

[The Punter]

Kos provides some very useful insights at times, but he's always most reluctant to give the ALP an L or the Libs a W.

Perhaps all jurisdictions everywhere should get better at accurately budgeting?

The anti-debt brand has certainly been diminished in the Libs, but not at the fault of the Victorian State Libs, who were careful to a fault last two times in power to not rack up debt at any great level (or at all). As is usual with all their branding, its the Feds who trashed it.

Finally, the reason debt doesn't cut through like it did before is two fold:

• Unlike in Victoria 1989-1992, the negative effects of massive levels of government debt is not felt by the populace. Back then, Victorians could see their building society closing down, the State Bank being sold (with their school saver accounts), the trams parked up and down Bourke St and see the connection. Not now.
• That debt has been used, as Pakenhamsaint so eloquently described, to build infrastructure and employ thousands of people thankful to the current government for those jobs. As long as employed these people aren't to be politically turned.

 

[Pakenhamsaint]

Kos provides some very useful insights at times, but he's always most reluctant to give the ALP an L or the Libs a W.

I agree mostly. I wouldn't say always though. Most of the time his comments are driven off the data that's in front of him.

Perhaps all jurisdictions everywhere should get better at accurately budgeting?

It's the lack of expertise that does it. Throw in the bean counters you end up with a mess.
It isn't a government exclusive either. In private sector the same happens.

The anti-debt brand has certainly been diminished in the Libs, but not at the fault of the Victorian State Libs, who were careful to a fault last two times in power to not rack up debt at any great level (or at all). As is usual with all their branding, its the Feds who trashed it.

The Federal Libs have done some irreversible damage to the Liberal brand. Given the change in the political landscape it's not something that isn't fixable without some serious change in the party.

 

[Nuggs Bunny]

It's the lack of expertise that does it.

It's not. The problem is there is no longer a true impartiality when producing business cases and cost estimates because consultancy knows that their ability to win work is by submitting the lowest price for the service and that producing results that their client wants to see is the way to win more work in the future. There is a growing trend of projects being announced and receiving some level of funding before the business case is even released - a government is not going to want to walk back an election promise that easily.

 

[Pakenhamsaint]

It's not. The problem is there is no longer a true impartiality when producing business cases and cost estimates because consultancy knows that their ability to win work is by submitting the lowest price for the service and that producing results that their client wants to see is the way to win more work in the future. There is a growing trend of projects being announced and receiving some level of funding before the business case is even released - a government is not going to want to walk back an election promise that easily.

That is part of it too.

Expertise is a big bit still though. Once upon a time government departments were the ones that drove the projects.
They were the ones who knew what was needed. They need to go back to that level.

 

[Nuggs Bunny]

That is part of it too.

Expertise is a big bit still though. Once upon a time government departments were the ones that drove the projects.
They were the ones who knew what was needed. They need to go back to that level.

The same types that have always worked in the planning, execution and completion stage of projects are still there, except a lot of the client side are now no longer directly employed by the client and are now consultants on hourly hire. The end result means instead of paying someone to do a full review and provide advice or produce a design, you're paying somebody to do 100 hours of work and if there are still questions at the end of that 100 hours then they don't get answered. The questions without answers don't make it into the tender but they do come out in the wash and that's when the variations start coming in.

To go back to that level, the public service needs to be rebuilt to what it was so all of these roles go in house to people on salary and the priority of health, transport and education projects shouldn't be in the hands of political parties.

 

[Pakenhamsaint]

The same types that have always worked in the planning, execution and completion stage of projects are still there, except a lot of the client side are now no longer directly employed by the client and are now consultants on hourly hire. The end result means instead of paying someone to do a full review and provide advice or produce a design, you're paying somebody to do 100 hours of work and if there are still questions at the end of that 100 hours then they don't get answered. The questions without answers don't make it into the tender but they do come out in the wash and that's when the variations start coming in.

To go back to that level, the public service needs to be rebuilt to what it was so all of these roles go in house to people on salary and the priority of health, transport and education projects shouldn't be in the hands of political parties.

It has proven over the journey how useless private enterprise is

 

[Gralin]

The only people who say that are people who don't like him anyway.

You don't get to be the longest serving premier by being bad.

You get there by being a political animal like John Howard as Prime Minister

That doesn't mean you are good, it means you are smart, you make choices that keep you in power until you can't

 

[peetoo]

Tenth budget proves Labor cannot manage money

​

​ ​ With record debt, record interest, record taxes, service cuts and poorer outcomes – it’s clear Labor cannot manage money and Victorians are paying the price.

Fryzo says hello.

Ask him where the money went in your next chinwag