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In 1994 while shadow finance spokesman, I wrote a paper titled “Economic and Financial Management of Victoria under Labor”. It was an attempt to look honestly at what happened under the Cain/Kirner governments that led to Labor’s loss to Jeff Kennett in 1992. The paper noted important reforms under Labor including modernisation of accounting standards, new program budgeting practices, development of models for private public partnerships and significant investment in community infrastructure schools, hospitals, parks and transport. Yet there were many issues. The State Bank had to be sold as it was in a parlous financial situation. The Tricontinental Building Society collapsed, affecting the savings of Victorians and the government’s investment arm VEDC posted large losses. WorkCover was $3b in debt.

Steve bracksTim pallasDan andrewsBaillieu napthineJeff kennettCain kirnerLabor partyBank governorTricontinental building societyFinancial managementState bankAuditor generalTreasurer timVictorian auditor generalReserve bank governorஸ்டீவ் பிரேக்குகள்