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RHIANA WHITSON, REPORTER: As the Victorian government’s debt soars to astronomical levels, it’s still reaching for the stars.
RHIANA WHITSON: The company makes high altitude balloons that provide on demand high resolution sensing, weather monitoring and communication services for commercial and government clients. RHIANA WHITSON: Earlier this year there were calls to shut down the fund because of the risk, a lack of transparency around its investment decisions and when taxpayers will get a return.
SAUL ESLAKE: Singapore can afford to do this because it is running enormous budget surpluses, as a result of which it has cash that it needs to invest. RHIANA WHITSON: As part of World View’s deal with Breakthrough Victoria the company has promised to create 200 jobs in the state to build stratospheric balloons largely used for imaging and surveillance.RHIANA WHITSON: What was your reaction when you heard the Victorian Government had put $37 million into World View?
RHIANA WHITSON: Timothy Sandefur is from conservative US thinktank Goldwater Institute which successfully sued Pima County over its $15 million investment in World View. In the latest Victorian budget, $360 million was trimmed from Breakthrough Victoria over the next four years, but the life of the fund was extended from 10 to 15 years.
RHIANA WHITSON: Matt Berriman recently resigned as chair of Mental Health Australia. He is scathing about Victoria’s decision to delay the rollout of mental health centres.
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