Tuesday, May 05, 2009
Victoria's state budget. (Trust me, I'm a state premier.)
May 05, 2009 03:05pm
STATE debt will blow out to $16b in four years as the government ramps up spending in a bid to ward off the global financial crisis.
In a massive $42 billion budget spend the government will borrow heavily to fund infrastructure, health and bushfire recovery projects as it works to secure the jobs of thousands of Victorians.
As a result net debt will increase from $2.2 billion this year to $16 billion in 2013.
Guess the master of the bread and racing circuits, Bernie Ecclestone is still a happy little Vegemite, coz he'll still be plied with the money he wants.
"DESPITE global economic calamity and enormous cost-cutting to his famously profligate sport, formula one supremo Bernie Ecclestone will take home a record fee from Victoria for the Australian Grand Prix in a fortnight.
The Age can reveal that this year Victorian taxpayers will part with $47 million, simply for the privilege of hosting his car race.
Formula one is the platform on which Mr Ecclestone (below) has built his personal fortune, recently estimated at $5.2 billion.
The diminutive Briton runs the glamorous sport with an iron fist. He has done so, from a variety of roles, for decades."
Labels: Tossers., turd acts, Weak as.
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