Treasurer says $112bn cost over five years is one of fastest growing pressures on budget, blaming Coalition for the ‘mess’ it left
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Interest payments on commonwealth government debt will cost the federal budget $112bn over five years, or $60m a day.
The treasurer, Jim Chalmers, revealed the soaring cost of debt ahead of Tuesday’s budget, which will show interest now costs more than the family tax benefit, childcare or infrastructure.
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Continue reading…Treasurer says $112bn cost over five years is one of fastest growing pressures on budget, blaming Coalition for the ‘mess’ it leftFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastInterest payments on commonwealth government debt will cost the federal budget $112bn over five years, or $60m a day.The treasurer, Jim Chalmers, revealed the soaring cost of debt ahead of Tuesday’s budget, which will show interest now costs more than the family tax benefit, childcare or infrastructure.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…