THURSDAY 29 OCTOBER 2026 – Victorian sporting greats, prominent business leaders, founders and media figures have taken the unprecedented step of jointly calling on every political leader contesting the state election to commit to a credible plan to reduce Victoria’s debt.
More than 100 leading Victorians have signed an open letter urging all parties to commit to reducing debt ahead of the 28 November state election. Not just promises, but real action.
Signatories include entrepreneur Sid Myer; current and retired AFL stars Toby Greene, Gerard Healy and Luke Darcy; leading philanthropist Craig Winkler; radio star Michael ‘Wippa’ Wipfli; Viktoria & Woods founder and creative director Margie Woods; National Basketball League owner Larry Kestelman; Village Roadshow CEO Clark Kirby; Decjuba founder Tania Austin; former Olympic swimmer and Group CEO of Generation Development Group Grant Hackett; Carman’s founder Carolyn Creswell; The Big Group co-founder Bruce Keebaugh; Linktree co-founder and CEO Alex Zaccaria; me&u co-founder and CEO Kim Teo; Zeller co-founders Ben Pfisterer and Dominic Yap; Afterpay co-founder Anthony Eisen; chef and restaurateur Shane Delia; and AMPLIFY founder and chairman Paul Bassat.
Victoria’s net debt is approaching $200 billion – the highest of any state and around the same as that of NSW, Queensland and Tasmania combined. Interest alone costs $24 million a day. That’s money that can’t be spent on hospitals, schools, housing, better roads or services.
When governments spend more than they collect, the debt and repayments keep growing. That downward spiral means less for every Victorian, makes it harder for small businesses to thrive and worst of all, leaves a burden for the next generation.
The signatories have one simple question for Victoria’s political leaders: what is your plan to pay down Victoria’s massive debt?
AMPLIFY founder and chair Paul Bassat said: “Since we started speaking out about Victoria’s debt, I’ve been overwhelmed by the support. It has struck a chord with Victorians from every walk of life. I’ve spent my life in Victoria and I want the next generation of Victorians to have the same opportunities that my generation has enjoyed. Right now, $24 million a day is going on interest instead of the things that make this state great. Victoria doesn’t need a miracle, it needs a credible plan.”
AMPLIFY executive director Martin Codina said: “This is a powerful and unprecedented intervention. These leading Victorians have come together to urge action on Victoria's debt. Their ask is clear: what is the plan to pay down Victoria’s massive debt? They know that if Victoria doesn't get its debt under control, everything is going to get harder and it is the next generation that will carry the burden. That's why AMPLIFY is campaigning to break free from Victoria's debt. Anyone who wants to govern Victoria needs a credible plan to reduce the state’s debt without further increasing taxes.”