Life continues to get harder for Victorians as new figures confirm Victorian household incomes have suffered the largest fall of any state or territory.
ABS figures released yesterday confirm that real household disposable income per person (remaining household income per person after taxes and living expenses are paid) fell 6.5 per cent over the 12 months to June 2023.
This compares to decreases of just 4.2 per cent in New South Wales and 3.8 per cent in Queensland and comes as total aggregate mortgage repayments of Victorian households more than doubled from $12.5 billion in 2021-22 to $25.6 billion in 2022-23.
The dramatic fall in household incomes follows confirmation that under the Allan Labor Government Victoria is the highest taxed state in the nation as Labor’s record debt heads towards $200 billion over coming years.
Shadow Treasurer, Brad Rowswell, said: “Labor’s financial mismanagement is making a difficult time even harder for Victorian households and families.
“On top of increasing mortgages and inflation, Labor’s combination of waste, mismanagement, higher debt and ever-increasing taxes is draining even more money out of household budgets at a time they can least afford it.”
