Australia's Current Debt

Australia's Current Debt

Australia's national debt is rapidly clocking up at $320 million a week - that's $527 every second. While this debt remains unpaid, Australia's interest on that debt is over $16½ billion a year - increasing at a similar rate to $527-a-second.

To put that figure into perspective, the interest on unpaid debt (clocking up above) would pay for 7 brand new, state-of-the-art public hospitals or 7 new high-efficiency, low-emission (HELE) coal-fired power plants to secure our energy grid - every year. That's not to say those are the federal spending priorities Australian Conservatives, but shows how much the Australian taxpayer misses out on due to unpaid debt. Worse still, future generations suffer for the debt run up by this generation.

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