Strong balance sheet compared with international and domestic peers Diversified economy Ongoing fiscal discipline Strong system support Like all Australian states, a degree of structural imbalance between revenue powers and expenditure responsibilities Three characteristics define Victoria in relation to its peers: strong system support, strong balance sheet, and sound fiscal management. Australia's system support and the predictability of Commonwealth-state relations is one of the strongest in the world and is expected to remain so (see "System Support and Predictability for Australian State Governments", published on RatingsDirect on March 16, 2006). Maintaining a substantial budget operating surplus of at least A$100 million in each year; and Maintaining state government net financial liabilities at prudent levels. The Victorian WorkCover Authority (VWA) is
