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Keyword: debtaustralia

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  • Australia's conservative government pays off national government debt!

    04/20/2006 5:01:04 PM PDT · by newfarm4000n · 55 replies · 1,139+ views
    Herald sun ^ | 04/21
    TREASURER Peter Costello has dubbed today "debt-free day" as the commonwealth bankcard finally comes into the black. Mr Costello says Australia will be debt free as the Government finally wipes a debt of $96 billion it inherited when it came into office in 1996. The Treasurer said the Government had made $46.1 billion from asset sales since 1996, with all of those proceeds going towards retiring debt. Mr Costello said this was having a direct benefit to taxpayers. "With the retirement of all government net debt next year we are forecasting net interest payments of $300 million," he said. "This...