Victorians might now realise how a short term gain has left them with a lingering hole in the state’s budget. Jeff Kennett may have looked pleased after selling the state’s electricity assets for $23.5bn in the 1990s, but that business now earns an estimated $23bn per year. Unlike a federal government, a state cannot issue its own money, which means that hole has to filled either from the commonwealth, or increased taxes and charges. Gotta love the spiv libs.
