New data released today by the Australian Bureau of Statistics (ABS) shows that Victoria recorded the second-worst decline in household spending in the nation through the year to July 2023.
As cost of living pressures continue to bite, household spending decreased 2.2 per cent in Victoria, behind only the Northern Territory, while household spending increased in Queensland, South Australia, Western Australian and the ACT.
Victorian households are also spending less than many other States and Territories on furnishings and household equipment, recreation and culture, and clothing and footwear.
Shadow Treasurer, Brad Rowswell, said Victorians are amongst the hardest hit in the nation due to the mismanagement of the Andrews Government.
“Households are feeling the pain of the Andrews Government’s nearly 50 new or increased taxes, including taxes on jobs, schools and health,” Mr Rowswell said.
“Under Labor, Victoria is broke and the Andrews Government continues to put its hands in Victorians’ pockets to patch up its budget, with record state debt.
“With more and more taxes and charges, Victorians are paying the price for the Andrews Government’s mismanagement.”
Source: Monthly Household Spending Indicator, July 2023 | Australian Bureau of Statistics (abs.gov.au)
