About
Robert Clark
VPN
7 August, 1998
Figures always fly thick and fast when budgets are presented.
The charts which follow are intended to put some of those figures in context.
The first chart shows real (after inflation) State Government spending on health, social security and welfare:
The second chart is similar - it shows real State Government spending on education:
These two charts show that spending in these areas was reduced while the State’s financial difficulties were being tackled following the change of Government in 1992.
However, the State Government is now spending more in real terms in these areas than the previous Government spent in 1991-92.
At the same time, Victoria’s taxes have been steadily reduced in comparison with NSW and other States:
The spending increases and tax deductions have been made possible by the continued fall in the State’s interest bill:
This in turn has been mainly due to a dramatically reduced level of State debt, as a result of the privatisation program and the efforts Victorians made to restore the State’s financial health:
Overall, the State’s financial position is now sustainable, allowing Victorians to concentrate on other important things in life!
(Source for all charts: 1998-99 Budget Paper No. 2 - available on-line at www.vic.gov.au/stategov/finance.html.)