Stubborn government refuses to pay down some of what it owes

Victoria's government will pay $7.85 billion in debt interest this financial year, rising to $11.8 billion by 2029-30, consuming 10 cents of every revenue dollar by then. Treasurer Jaclyn Symes' budget prioritizes cost-of-living relief over debt reduction despite securing an additional $5.3 billion in revenue last year. The state's interest costs are growing 2.5 times faster than debt itself.

Summary by Glance · The Age