‘Grim’ $7.5 billion Victorian budget deficit

VICTORIAN Treasurer Tim Pallas has handed down a "grim", "bad" and "simply eye-watering" mid-year financial update, with the budget expected to have a $7.5 billion deficit.

Mr Pallas revealed the outlook last week, with at least another 50,000 Victorians expected to lose their jobs by the end of the year and the state's unemployment rate expected to peak at 9 per cent.

The Guardian

You can now read the full story.

Click here to view subscription and Pay As You Go options
Subscribe Log in