Back in the black... but then what?

December 17, 2018

With the Federal Government's Mid-Year Economic and Fiscal Outlook predicting Australia to be "back in the black" next financial year with a surplus of $4.1 billion (the first surplus in more than a decade) the question now should be, "But what about our debt?"

Conservative Party leader Cory Bernardi has repeatedly pointed to off-balance sheet projects like the NBN and other high-cost, low yielding entertprises bleeding national coffers, not is the time to start paying back debt.

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With both major parties unwilling to curb spending and pay back debt, intergenerational theft is occurring on a massive scale.

High-spending, high-taxing budget commitments endanger the stability of the economy and condemn future generations to fix the problem.

Senator Bernardi has told 2GB, neither major party has an appetite for budgetary restraint. 

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Australian Government Debt

Australian Government Debt The latest Budget update shows that the Federal Government’s gross debt will continue to rise over the forward estimates – clocking up at an average rate from here of $11.5 billion per...

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