Amplify's fiscal hawks warn Victorian debt crisis

An advocacy group led by Paul Bassat has signed a letter urging all parties in the upcoming Victorian election to address the state's unsustainable $160 billion net debt, which is forecast to reach $200 billion by 2030. While Amplify avoids spending money on advertising and maintains political neutrality due to campaign laws, its signatories include prominent figures from financial firms like Tenet Advisory who have previously worked for major accounting organizations. This protest highlights growing public concern alongside warnings from Victorian Treasury officials in August that soaring debt levels could lead to a credit rating downgrade as interest repayments are projected to cost taxpayers $12 billion by mid-2030.