Debt

This Massive Debt Is With Us Till 2080
9 October 2020

This Massive Debt Is With Us Till 2080

“Insouciance” is a word Australians don’t use very often. Maybe we should. It perfectly describes the popular reaction to this week’s federal budget and the news the country faces more than a trillion dollars of government debt. Australians are also insouciant about the jobs of a quarter of the nation’s workforce now being dependent on wage subsidies from the government.
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REVEALED: Get Set For Debt Until 2080
8 October 2020

REVEALED: Get Set For Debt Until 2080

Australia is unlikely to be debt-free until 2080 as a result of the lockdowns implemented in response to COVID-19. The much anticipated 2020-21 Budget does not even attempt to highlight a path out of debt and deficits, leaving mainstream Australians with little hope that the bill for the largest public policy failure in the nation’s history will be paid off
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Debt To Hit $2.05 Trillion, 60 Years To Pay Off
7 October 2020

Debt To Hit $2.05 Trillion, 60 Years To Pay Off

Modelling by the free market think tank the Institute of Public Affairs, based on data from the Commonwealth Government Budget and the Australian Bureau of Statistics, estimates that: Gross Commonwealth government debt will peak at $2.05 trillion in 2045. Gross Commonwealth government debt will not be paid off until the year 2080. A Budget Surplus will not return until 2046.
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The Economic Statement: Business As Usual Won’t Defuse Our New Debt Bomb
13 May 2020

The Economic Statement: Business As Usual Won’t Defuse Our New Debt Bomb

Treasurer Josh Frydenberg yesterday delivered a sobering economic statement to Parliament. In stark contrast to the premature “back in the black” celebration just 12 months ago, the Treasurer detailed the “significant increase in government debt which will take many years to repay”. In the absence of any meaningful scrutiny from the opposition, the coronavirus pandemic has effectively given the government
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$1 Trillion Worth Of Debt Within Three Years
1 April 2020

$1 Trillion Worth Of Debt Within Three Years

“Australia could have $1 Trillion worth of debt within 3 years. The only way to repay this monumental amount of debt is for Australia to become more productive,” said John Roskam, Executive Director of free market think tank the Institute of Public Affairs. Total debt was $556 billion going into the crisis. The recently announced fiscal measures by the federal
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Highlights of Professor Sinclair Davidson on The Young IPA Podcast
28 November 2017

Highlights of Professor Sinclair Davidson on The Young IPA Podcast

Professor Sinclair Davidson, IPA Senior Research Fellow and Professor of Institutional Economics at RMIT University, joined us on The Young IPA Podcast this week. Here’s some of what he had to say: Why Australia hasn’t seen meaningful tax reform since 2007 Well there’s two things that have really happened. The first is we’ve had a lack of economic leadership. Peter
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Turnbull Government Makes Wrong Choices On Taxes And Spending
9 May 2017

Turnbull Government Makes Wrong Choices On Taxes And Spending

“This Budget lacks the ambition needed to fix the deep structural problems with our national economy and finances. Taxes will continue to rise, and government will remain too big”, said Daniel Wild, research fellow with the free market think tank the Institute of Public Affairs. “It is disappointing that debt will continue to grow to over $600 billion, and that
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3 May 2017

Why Should Everyone Else Pay For Your Expensive University Degree?

Australian students have the immense privilege of being able to attend a world-class university regardless of their bank balance, or family background. And that will continue under the government’s recently announced plans to make students foot more of the bill for their degree, and to start paying it back sooner. The beauty of Australia’s higher education contribution scheme, or ‘HECS’
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IMF Report Shows Old-Time Fiscal Religion Is Needed To Counter The New Mediocre
20 February 2017

IMF Report Shows Old-Time Fiscal Religion Is Needed To Counter The New Mediocre

The latest annual IMF Australia Consultation might have passed unnoticed but for this highly damning statement: “the new mediocre”. Perhaps they were being polite – Australia’s lacklustre fiscal performance has become the new normal or just mediocre. There is nothing new about the increasing debt and ongoing deficits we have experienced since the Rudd government panicked in 2008 and went
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Federal debt to explode to $600bn within three years
15 February 2017

Federal debt to explode to $600bn within three years

From The Australian today: Australia’s gross public debt is on track to rise from $474bn as of last month to more than $600bn within the next three years — even including the government’s reform measures — which will amount to around $23,500 a person. Such calculations include swaths of the Australian population who will shoulder little of the debt repayment. There
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