In an interview with Fairfax Media, Treasurer Scott Morrison said infrastructure spending would qualify as good debt in Tuesday night’s budget but that he was bringing spending under control to prevent the use of bad debt to cover ongoing expenses.
I will be reducing net debt. I will be ensuring debt is under control, he said.
The Commonwealths total borrowings are on track to reach $684 billion over the next decade, incurring interest payments exceeding $20 billion a year, but this gross debt will be offset by assets like the Future Fund to produce lower net debt figures.
Budgets should never been seen as a weapon or a means to winning elections
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