For the next six months, the Federal Government will be paying the equivalent of half of the country's total wage billIn the mid-year budget update, Australia's net debt was forecast to peak at $392.3 billion in 2019-20, or 19.5 per cent of gross domestic product , before declining.
Officially, it will raise the money via the Australian Office of Financial Management , which borrows money on behalf of the Government by selling Australian Government bonds. Institutional investors will buy the bonds, which promise to pay regular interest payments and repayment of the principal at a set future date.
the same place your labor party got theirs
From you and me in the long term naturally
we are cutting funding to state run propaganda TheirABC
We really are spending our kids inheritance.
If they spent it all in aus, its back in the economy.
ABCs dopey analysis again. Put your crayons away, it’s time to learn our 2x table today.
Ban franking credit, negative gearing, transfer pricing, tax subsidizing private schools n healthcare, mining companies from selling aus out.
Don’t worry everyone. These guys are the only ones that can manage the economy. They’ve told us heaps of times. It’s all good!
Scotty has a massive printing press in his Back Yard , new Notes to have Sharky s on it
Any debt owed to China should be wiped clean. ChinaLiedPeopleDied ChinaIsAsshoe
Fossil Fuels.
Not out of theirABC pocket
Digital currency
Ditch franking credits and make big companies pay their taxes instead of handing them great wads of cash. That'd cover a fair chunk of it.
We could pay it pay much faster if we stopped wasting money on your poxridden creche.
Actually a fair question, ABC. Well done.
Fund it with a global moratorium on defense spending. Too easy. nomoneyforwar
Toilet paper will be a better investment than the Aussie dollar very soon. Devaluing by the hour every hour of the day.
you must be kidding. In the middle of everything that is being done you deliver analysis not just pure sensationalism. Wake up whoever is still awake at Aunty ABC and start using your brains and not pulling it out of the other end.
Private sector tax
Where did the money come from for WW1 and WW2?
And how much are we paying this new national cabinet?
That's if the government ever get around to actually delivering the stimulus package.
Hey you have a serious troll problem which warrants some action on your part
From here:
Not currently from GST or Income Tax that’s for sure
We’re just locking in coal revenue for the next 20 years 😂😂😂
the next gov would need to hike taxes Only 3yrs ago they were hell bent on cutting biz tax but this time a tax hike GST hike n levy
Low or zero interest bonds imposed on super funds, repaid by 'forgiving the 15% tax levied on super fund income. It's not rocket science
Since when does the ABC care about where the money comes from?
Will one not use one's credit card for survival? For the first time, I heard some authority talking about claiming compensation from China, on the radio this morning. Why don't you follow up on that? Could be an equitable solution.
What about a once off COVID-19 tax levy in 2021 or 2022? Equitably share the load.
The Chinese of course...
This ABC link will help Australia is monetary sovereign with a fiat currency. All federal spending is money creation.
Maybe it’s time for big Corp to pay their share of taxes...
Printing the dollar into worthlessness.
Congress authorises RBA through Treasury to create the authorised amount using computer keystrokes. No tax revenue required. It's always been like that. People and ABC just been ignorant so far.
Meanwhile nurses are under paid. Having to risk our lives and of those we love, no danger money like the military, people nearly earning what we earn, sitting at home! Not bloody right qldhealthnews qnmuofficial 9NewsAUS ScottMorrisonMP AustralianLabor COVID19au
Beware those on NS. After 6 months when yr all put back on measly $254. It will be the gov can't afford any increase.
All I will say to this article is ,were does ABC get their budget from and as a International Media outlet should look at the positives that our Government is trying to achieve compared to the rest of the world in the wake of this crisis.
Sell Australia 🇦🇺 bond 🇦🇺🦠🧻🧻
Don’t we borrow it from Mars or Uranus?
A printer & the future devaluation of everything 😬
ABCIsTrash
Guess in the coming years mining exports will rise as China look a safe bet for decades to come.......we are lucky here. Put a $2 bounty on each greeny may help the cause as well.
Resource tax?
Not franking credits thats for sure!
Myriad offshore accounts?
Oh come on.....you guys are unbelievable!!! One minute the govt isn't doing enough and next you are concerned about the debt. Give us a break.
Just so long as there are checks and balances in place to ensure that it's actually the employees that are getting this 'jobkeeper allowance' No matter what the government does there's going to be a huge bill at the end
Buy Bitcoin. The AUD will be worthless in 10 years. Indeed all fiat currencies will be worthless soon.
Time for a transaction tax to help multi-nationals pay their fair share of tax in Australia - prior to any deductions and other deals with ato_gov_au This is a sensible approach to the debt problem that does not cripple our economy. auspol ausbiz transactiontax
Maybe not buy / build these useless submarines ... just saying!!
The $11,000 fines
Selling bonds, same as all other government borrowing. Next please
But you say this like you actually care ABC, and when Barnaby Joyce asked the same question of fake GFC Kevin Rudd you scoffed, i have a long memory, do you ABC ?.
lol As if ABC have ever given a flying fuck about deficits before
Printing presses, I believe?
ANALYSIS: Isn't it about time we heard from ABC/SBS employees & management as to how much of pay reduction they are going to take to help out during the crisis?
gregoryjamesre1 I know where a billion or more a year could come from you ABC parasites!
Unimportant.
quantative easing in the form of printing money. All money is fake and not real anyways.
It’s obviously coming from the new police state laws shameful fines
More money in the system so the rich can get richer, sucked all the spare cash from us until there was nothing left. All roads lead to the top 10percent
A question many of us are asking.
It's coming from taxpayers pockets, just like the yearly waste of $1 billion for TheirABC
CHINA
Nationalising the mining companies? Making wealthy companies pay tax? Taxing billionaires? Of course not.
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