‘Uninvestable’: Business blasts Victoria’s ‘reckless’ financial state

The chairman of Melbourne-based biotech giant CSL, Brian McNamee, says leading fund managers have told him Victoria is currently uninvestable and warned the damage wrought by years of financial mismanagement by successive Labor governments will take at least a decade to fix.

Business leaders, former senior politicians and a former government auditor on Monday expressed concerns about Victoria’s debt trajectory after a damning review of the state’s finances was published in The Australian Financial Review, which Premier Jacinta Allan largely dismissed.