Part 6/8:
Critics argue that Victoria’s economic troubles stem from reckless fiscal policies—namely, heavy taxation, unchecked government spending, and neglect of fiscal responsibility. The former Treasurer, Tim Pallas, once a member of the right faction, reportedly sold out his principles by accommodating the left’s dominance, resulting in a fiscal trajectory that exacerbates the crisis.
The collapse of responsible economic management has led to a decrease in land and property values, with land taxes contributing to declining real estate confidence. This financial instability further discourages investment and economic growth.