Budget faces debt cliff as interest rates on borrowings soar

Australia News News

Budget faces debt cliff as interest rates on borrowings soar
Australia Latest News,Australia Headlines
  • 📰 theage
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 77%

The highest interest rate on government debt since 2014 points to much higher interest bill for taxpayers and the federal government. |EXCLUSIVE by swrighteconomy

“After a wasted decade, the Liberals’ legacy is a trillion dollars of debt with not enough to show for it and now the cost of servicing all that Liberal debt is going up too,” he said.

“The budget is going to go from these ultra-low interest rates to much, much higher rates and it’s going to have a huge impact,” he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theage /  🏆 8. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rising interest rates, bad debts put buy now, pay later sector on the brinkRising interest rates, bad debts put buy now, pay later sector on the brinkBuy now, pay later is a popular payment method, but the sector is facing a perfect storm of rising interest rates, bad debts, a crowded marketplace and looming regulation.
Read more »

Queensland balancing two booms as budget books arriveQueensland balancing two booms as budget books arriveAs coal and property prices soar, Treasurer Cameron Dick faces twin revenue windfalls — and their potential benefit to the state — as he hands down the Palaszczuk government’s eighth budget on Tuesday.
Read more »

ASX seesaws after biggest weekly loss since 2020 on interest rateASX seesaws after biggest weekly loss since 2020 on interest rateAustralian shares have started the day lower, extending losses from their biggest weekly drop since March 2020 on Friday, as investors worry that aggressive monetary policy tightening could pull the global economy into recession.
Read more »

Falling prices not enough to make housing more affordable: Moody’sFalling prices not enough to make housing more affordable: Moody’sHigher interest rates will make housing less affordable across Australia even as prices fall, leading ratings agency Moody’s has warned.
Read more »

Falling prices not enough to make housing more affordable: Moody’sFalling prices not enough to make housing more affordable: Moody’sAnalysts said house prices would have to tumble by more than 20 per cent just to offset the impact of official interest rates reaching almost 3 per cent by year’s end as financial markets are predicting. | swrighteconomy property realestate
Read more »

Dozens of NSW councils raise their rates in response to inflationThe increase comes after the Reserve Bank of Australia (RBA) hiked interest rates up for the second time in as many months. 9News
Read more »



Render Time: 2025-04-18 23:10:28