Debt dragon can only be slain by courageous Conservative Senators

April 02, 2019

Today's federal budget will project a 10-year plan to reduce public debt to zero, matching the Conservative Party's commitment.

However, the only way to ensure the end of the generational theft of high public debt is to vote in more Conservative senators on the white ballot paper in May.

As the Treasurer prepares to put responsible economic management at the heart of the ­Coalition’s re-election pitch, The Australian understands the budget papers will forecast that the ­current net debt bill of about $370 billion will be wiped from the books by 2029-2030.

Senator Bernardi has previously criticised 10-year projections in budget papers, with the usual 'forward estimates' only covering the current and following 3 financial years.

The Coalition has copied the Labor playbook on Gonski school funding by putting 10-year projections in the budget papers.

That said, with Senators elected to six-year terms, the Conservatives say on budget day that the best way to ensure the 10-year fairytale of slaying the debt dragon becomes a reality is by placing more zero-debt Conservatives on the Senate crossbench.

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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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