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Net Debt $89B
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?

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Sprintcyclist Gold Member Offline OzPolitic Posts: 41713 Gender:	Re: Net Debt $89B Reply #1 - Aug 19^th, 2010 at 8:40am I don't have the detail. I guess canning the nbn saves about $30 B ??
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Darwin Gold Member Offline Australian Politics Posts: 1037	Re: Net Debt $89B Reply #2 - Aug 19^th, 2010 at 8:40am 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
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Darwin Gold Member Offline Australian Politics Posts: 1037	Re: Net Debt $89B Reply #3 - Aug 19^th, 2010 at 8:42am 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!
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Sprintcyclist Gold Member Offline OzPolitic Posts: 41713 Gender:	Re: Net Debt $89B Reply #4 - Aug 19^th, 2010 at 8:45am 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.
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Please delete Gold Member Offline Please delete this smacking PROFILE Posts: 2936	Re: Net Debt $89B Reply #5 - Aug 19^th, 2010 at 8:45am 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?
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Re: Net Debt $89B
Reply #6 - Aug 19^th, 2010 at 8:52am

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.

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Darwin Gold Member Offline Australian Politics Posts: 1037	Re: Net Debt $89B Reply #7 - Aug 19^th, 2010 at 8:56am 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!
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Please delete Gold Member Offline Please delete this smacking PROFILE Posts: 2936	Re: Net Debt $89B Reply #8 - 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?
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Sprintcyclist Gold Member Offline OzPolitic Posts: 41713 Gender:	Re: Net Debt $89B Reply #9 - Aug 19^th, 2010 at 9:01am 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
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Re: Net Debt $89B
Reply #10 - 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.

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Sprintcyclist Gold Member Offline OzPolitic Posts: 41713 Gender:	Re: Net Debt $89B Reply #11 - Aug 19^th, 2010 at 9:45am
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Please delete Gold Member Offline Please delete this smacking PROFILE Posts: 2936	Re: Net Debt $89B Reply #12 - Aug 19^th, 2010 at 10:39am 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?
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Equitist Gold Member Offline Australian Politics Posts: 9632 NSW	Re: Net Debt $89B Reply #13 - Aug 19^th, 2010 at 10:47am Sprintcyclist wrote on Aug 19^th, 2010 at 9:45am: Notwithstanding the dubious underlying assumptions for that graph, what it does reveal is how cynically dishonest the Lib $100M Daily Interest Ads are!
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Re: Net Debt $89B
Reply #14 - Aug 19^th, 2010 at 10:50am

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!

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Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!

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