Nationals' MP for Ovens Valley, Tim McCurdy, says the fact more than 100 Victorian government agencies posted losses in the 2024–25 financial year points to the government’s "financial mismanagement having reached crisis point".

He said annual reports tabled in Parliament have revealed at least 103 agencies across health, transport, justice, and community services have collectively suffered a net loss exceeding $3 billion.

Among the biggest losses were Victorian Rail Track ($1.2 billion), the Department of Families, Fairness and Housing ($469 million), and the Department of Transport and Planning ($408 million).

Mr McCurdy said the figures paint a grim picture for regional Victorians.

“When essential services like our local health services, water authorities and hospitals are all in the red, communities suffer,” he said.

“It means poorer care, slower services, and more cost-of-living pressure for everyday Victorians.”

He said the government was also struggling to pay its bills on time, with nearly one in five government invoices under $3 million being paid late this financial year.

“After 10 years of Labor, Victoria’s debt is growing by $2 million every hour, set to blow past $194 billion by 2028–29,” Mr McCurdy said.