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Australia’s gross national debt to tick over $1tn

Later this morning, Australia’s gross national debt will hit $1tn. The Australian Office of Financial Management which calculates and publishes the Commonwealth’s sovereign debt, had it at at $983.7bn as at 14 August.

Today’s debt is tomorrow’s taxes, and the debt the Albanese government is racking up is being spent as fuel for inflation making the damage so much greater

I don’t see anything in the bill that really diminishes the rivers of gold that the corporates are earning, and sufficient restraints on their abilities to prey on the most vulnerable, particularly our children. I’ve listened to the charities who have to respond to the carnage caused by addiction. It’s their voices we should be acting on, not those that are making them money.

The reforms that we have announced as part of this legislation [are] going to make a meaningful difference. I understand that it’s not in your political interest to acknowledge that, but it is something that we are determined to deliver on because we know that is going to make a difference for people, not only those who are at risk of harm, who may be suffering from harm, but also for young people at the same time.

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