Scott Morrison to lift credit limit as Australia’s debt hurtles towards $500 billion
Treasurer Scott Morrison, pictured in London this week, says the government is making progress in reining in Australia’s debt. Photo: Chris Ratcliffe
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Shadow treasurer Chris Bowen says Australia’s AAA credit rating is under threat. Photo: Josh Robenstone
The federal government will be forced to lift its own self-imposed credit limit in the coming months as debt hurtles towards half-a-trillion dollars – almost double the number the Coalition inherited from Labor.
Gross commonwealth government debt has reached more than $474 billion after a sharp jump in recent weeks, leaving it just $26b short of the $500b debt ceiling set by f…
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