Victoria owes
$0
From a rounding error to $165 billion
Each circle is Victoria's net debt on 30 June. Its area shows the size of the debt.
The interest bill, every year
Money paid to lenders before a single dollar reaches a school, hospital or road.
The debt skyline
Every bond Victoria owes is a building. Its position is the day it must be repaid, and its colour is the rate it pays now.
Only replaces bonds that mature. It adds no new borrowing for deficits, so the real bill is higher. TCV's bonds fund the whole state, so they don't match the general government interest bill.
And it keeps growing
Total borrowings rise every year of the Budget's forecast.
What it costs each of us
The 2026-27 interest bill, shared across everyone who lives here.
The numbers behind it
Every figure traces to a public document.
General government and whole-of-state tables
Every bond Victoria owes
Sources
- Victorian Budget 2026-27, Budget Paper 2 and the Statement of Finances.
- DataVic aggregate financial statements and net debt series (whole-of-state figures and history).
- Treasury Corporation of Victoria, amount on issue. Floating lines as at 2 October 2026.
- Market rates, 13 October 2026: RBA cash rate 4.60%, Australian 10-year yield about 5.3% (Trading Economics).
Method and limits
The clock assumes general government net debt moves in a straight line between the Budget's 30 June 2026 figure ($165.3b) and 30 June 2027 figure ($175.6b). Real debt moves unevenly.
For each financial year, a bond's interest is its amount times its rate until it matures, then the replacement rate. Floating bonds pay the benchmark plus their margin. The small indexed annuity ($34m) is left out. Replacement bonds are assumed to last past 2036.
Per-person figures assume 7.1 million people and 2.7 million households. These are round numbers, not census counts. From 2019-20, new accounting standards moved leases and some public-private partnerships onto the debt figure, which explains part of that year's step up.
This is analysis of public data, not financial advice.