Stephen Mayne

So it's up 9.3 times.

in 32 years, and inflation over the same period, a $100 toaster would be $240.

So inflation over that period is 140%, yet they've gone 930% in property tax revenue.

And even if you do a population stat, the population is up by 56% over that period to 7 million.

Yet property taxes have gone up nine.

And payroll tax is the same.

It's gone up sixfold.

So it's just massive tax increases.

And even after these massive tax increases, you're still burning $13 billion a year in cash.

And the simple reason is that when the Labor government of Victoria got into power, the capital works budget was running at $4.5 billion a year.

Now it's $25 billion.

And might get back to 15 on the forecast.

So they've just done this enormous debt-funded infrastructure spending spree.

CFMEU boondoggles and all the rest.

And it's all debt-funded.

And even with massive tax increases, they're still bleeding cash at the top of a boom.

And for mine, it's just unsustainable.

Oh, the rates have gone up.

And don't forget the levy, the COVID debt levy on payroll tax, the mental health and wellbeing levy.

They're both payroll tax increases.