Guest Guest66881 Posted January 27, 2014 Share Posted January 27, 2014 Treasurer Joe Hockey has given a directive to borrow $500 billion, in line with the government's unsuccessful bid last year to set the debt limit at that level. Mr Hockey's directive relating to government borrowing was officially gazetted on January 22. "I direct that the maximum total face value of stock and securities that may be on issue is $500 billion," Mr Hockey states. The directive expires on April 1, 2024. The government tried to set the debt cap at $500 billion in 2013, but Labor would not agree to it. Subsequently the coalition reached a deal with the Greens to abolish the debt cap altogether. The Treasury has now borrowed $500 billion consistent with the government' initial position. http://au.news.yahoo.com/thewest/a/21085919/treasury-given-nod-for-500-billion-debt/ Link to comment Share on other sites More sharing options...
flag of convenience Posted January 27, 2014 Share Posted January 27, 2014 It was unlikely to be any other way. So much for the budget crisis this lot where harping on about when Labor pulled the strings. Link to comment Share on other sites More sharing options...
Nikey Posted January 28, 2014 Share Posted January 28, 2014 How does this compare to uk and other countries? Link to comment Share on other sites More sharing options...
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