Treasurer Jim Chalmers could hand down a shock surplus when he delivers the federal budget next week, but a back-in-black bottom line will do little to ease Australia's total debt. 9News
next week, but a back-in-black bottom line will do little to ease Australia's total debt.
The Australian government's gross debt is currently hovering around $900 billion and is tipped to hit the $1 trillion mark by 2025-26. "The fact that people are speculating even about a Budget in balance is because of the responsible approach that we have taken to the first two budgets by making sure when we get these big upward revisions to revenue that we let most of that flow through to the bottom line," Chalmers told reporters.
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