Victoria faces $33.3 billion deficit and 20,000 job losses ahead
Victoria's latest budget update revealed a projected cash deficit of $33.3 billion under the next government, prompting economist Saul Eslake to label budget repair a 'Herculean task.' Treasurer Colin Brooks noted that federal changes to migration policy could cost the state 20,000 jobs and result in a $7 billion economic hit over four years.
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Published 12 Nov 2026, 06:56 UTC · Updated 12 Nov 2026, 07:00 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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