Stephen Mayne

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.

But on land tax, you've got the COVID debt levy.

You've got the emergency services and volunteers fund, the congestion levy, the metropolitan improvement levy, the windfall gap levy.

So they're hitting property holders every which way.

And before you look at the $5 billion plus in council rates in Victoria, it's going to be $9.5 billion in cash.

So it's a bubble and they're milking it.

And so I guess that plays into the capital gains tax negative gearing debate because property is the story of Australia, isn't it?

It is.

Yeah, that's right.

That's $25 billion a year if you add the rates in.

Yeah.

These are very large numbers.

So when Michelle Bullock is giving Jim Chalmers a whack over reckless spending, I think she should be having a look more at the states.

I mean, if you go around the country...

Western Australia, top of a mining boom, $30 billion debt.

South Australia, Malinakis has been re-elected, $37 billion debt.

Queensland, $160 billion, heading for $200 billion.

New South Wales, $177 billion.