Inside Victoria's Financial Woes: The Impact of Victoria's Cruise Ship Fee Hike

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David Limbrick MLC joins us to continue our ongoing coverage of the financial woes of the State of Victoria. We're watching the Victorian Government flailing as it tries to 'right the ship' after a decade of disasterously poor economic management. Victoria is Australia's mostly deeply indebted state, and also the highest taxing. Now they're taking drastic measures to cut costs, postponing infrastructure spending or trying to offload it to the Federal Government, cancelling events such as the Commonwealth Games, and most recently hiking up berthing fees on cruise ship operators to completely absurd levels, causing them to simply move their operations elsewhere. It's a classic example of 'f*** around and find out', or to put it in more polite economic terms, it's the 'Laffer Curve' operating exactly as any economist would expect. Can Victoria get out of the mess it's in? And should it take more drastic measures such as cancelling the hosting of the F1 Grand Prix? Only time will tell.

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