Can anyone explain Hockey's comment yeterday that Net Debt will peak at $89.5B?

"Mr Hockey promised that under a Coalition government, the net debt, forecast to peak at $89.5 billion in 2012-13, would be reduced by a third, or $30.2 billion."

http://www.smh.com.au/federal-election/abbott-pledges-to-slash-debt-20100818-12f8e.html?autostart=1

Is he saying that the net debt under Labor is forecast at $89.5B, or is that his projection if they sell medibank and do away with the NBN?

Either way, the peak net debt is a lot lower than I had thought it would be.

Anyone?

I don't have the detail.
I guess canning the nbn saves about $30 B ??

Was that net debt or net gross debt?

Oh, I miss barnyard as shadow finance minister!

I would not believe a single thing on that Lib “costings” paper:
http://petermartin.blogspot.com/2010/08/costings-is-that-all-there-is.html

Sprinty, canning or proceeding with the NBN will make little difference to the budget bottom line.

The Libs count as savings not proceeding with the business tax cuts etc but forget to take out the revenue from the MRRT LOL! A less competent costings you will never see, not even from the Greens!

darwin ?????
a $40 B expense DOES filter through to the bottom line.

the MRRT has a much smaller net income now JUDAS has rolled over to the big boys.

The comment states that canning the NBN and selling medicare would reduce debt by a third - $30B.

Which makes me think that he's saying the debt under Labor is $89.5B, and he reckons he'll reduce it to $60B.

Not very clear, is it?

Please delete wrote on Aug 19^th, 2010 at 8:35am:

Can anyone explain Hockey's comment yeterday that Net Debt will peak at $89.5B? "Mr Hockey promised that under a Coalition government, the net debt, forecast to peak at $89.5 billion in 2012-13, would be reduced by a third, or $30.2 billion." http://www.smh.com.au/federal-election/abbott-pledges-to-slash-debt-20100818-12f8e.html?autostart=1 Is he saying that the net debt under Labor is forecast at $89.5B, or is that his projection if they sell medibank and do away with the NBN? Either way, the peak net debt is a lot lower than I had thought it would be. Anyone?

Depends which way you look at it.

It took ten years to pay of $96b during a brilliant economic patch.

No Sprint, the NBN borrowings do not filter through to the bottom line.

The MRRT brings in a bit less, and Labor has adjusted the spendings. the Libs don’t spend anything and count that as a saving ahahahahaha what a joke they are!

So can anyone answer the question?

At one stage righties were saying it would be over $300B, then it was $150B or so, and we were paying $100M in interest on the debt per day.

What is the current net debt? Anyone?

hshshhshshs, so , where does $40 B go to ??

down your fibre to disappear?

the mrrt brings in a lot less, coys can totally depreciate their exisitng mines

"Net debt for the Australian Government general government sector is estimated to be $80.6 billion (or 5.7 per cent of GDP) in 2010-11, which is broadly consistent with the forecast in the 2010-11 Budget and the Economic Statement."

http://www.treasury.gov.au/documents/1858/HTML/docshell.asp?URL=01_Overview.htm

Add to this a smaller deficit in 2011/12, then surplus in 2012/13, I guess it all adds up.

http://imgur.com/2gmTZ.jpg

That graph must have been created by a liberal - I bet it is innaccurate both ways.

See the debt doesn't drop in 2012/3 for Labor, even though projections are for a $4B surplus?

Sprintcyclist wrote on Aug 19^th, 2010 at 9:45am:
http://imgur.com/2gmTZ.jpg

Notwithstanding the dubious underlying assumptions for that graph, what it does reveal is how cynically dishonest the Lib $100M Daily Interest Ads are!

Please delete wrote on Aug 19^th, 2010 at 9:00am:

So can anyone answer the question? At one stage righties were saying it would be over $300B, then it was $150B or so, and we were paying $100M in interest on the debt per day. What is the current net debt? Anyone?

Hmmnnn....clearly it is not a 'record level of debt' after all - since it is less than the $96B that the Howardian Libs were so keen to peddle ad nauseum ad infinitum!

Oh, and it won't take 'generations to pay off' eitherer!

Please delete wrote on Aug 19^th, 2010 at 9:44am:

"Net debt for the Australian Government general government sector is estimated to be $80.6 billion (or 5.7 per cent of GDP) in 2010-11, which is broadly consistent with the forecast in the 2010-11 Budget and the Economic Statement." http://www.treasury.gov.au/documents/1858/HTML/docshell.asp?URL=01_Overview.htm Add to this a smaller deficit in 2011/12, then surplus in 2012/13, I guess it all adds up.

Ernie,
You have no doubt heard the phrase, "lies, damned lies & statistics".

However, that should have read, Lies, Damned Lies, Statistics & Government Statistics.

Then, there are Facts & Political Spin, which morph back & forth, depending on whether you happen to be in power or in opposition!