SMH
·general
·4 hours ago
States warned on spending binge as they all collected record tax takes
States and territories face potential credit downgrades due to excessive spending amid record tax revenues, analysts warn. Queensland's tax revenue surged by 20.7% to $30.8 billion, while NSW and Victoria also reported significant growth. Higher inflation and slower growth could strain budgets, prompting Treasurer Jim Chalmers to propose reforms in the upcoming May 12 budget.
Summary by Glance · SMH
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