The treasurer says there’s ‘likely to be billions of dollars extra’ in higher bills on government debt in December’s budget update.
Articles on Government debt
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Prime minister Andy Burnham and chancellor John Healey have to find answers about where cuts will be made or taxes raised.
With no clear plan to curb government spending in the US or in Australia, investors are pushing up interest rates to decade highs.
Borrowing is more expensive. Investors are holding back.
African countries can move from being price takers to price negotiators. They should be able to reduce debt costs, freeing up resources for development.
Austerity has become the global default response to tough economic times. But New Zealand should be prioritising investment over cuts to foster long-term growth.
How much trouble is the government in?
The political unrest in Mozambique reflects discontent with the status quo, including limited opportunities for advancement.
Spikes in inflation are often blamed on government borrowing to deliver cash handouts. But it’s more complicated than that. The real issue lies in borrowing without a plan to balance the books.
The NSW government wants GST to be allocated according to population. But doing so ignores different service delivery needs between states.
The Andrews government has made a decent first step to reduce Victoria’s mountain of debt by $30 billion over the next decade.
If the US fails to increase its debt ceiling by June 1, it could be forced into an embarrassing – and hugely costly – default on its obligations.
Reading economic news can be confusing. Here’s how to understand what the news is – and isn’t – telling you.
Ghana’s finance ministry is struggling to build consensus on the country’s debt burden.
African countries are essentially placed in the position of a supplicant appealing to the kindness of creditors.
The government’s energy support package for UK business raises serious concerns about debt sustainability.
The double standard goes back to 1929, when Labor had the misfortune to be elected 12 days before the Wall Street crash that set off the Great Depression.
Normally investors view the future as more uncertain than the present. When that turns on its head, it’s often a bad omen.
The sums aren’t adding for South Africa on either the spending or revenue side. It’s a problem that’s developed over time with no action being taken.
The US debt ceiling is a form of self-delusion: a limit imposed on a borrower by the borrower itself. Australia had one until the Coalition and the Green us, abolished it.
Top contributors
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Scientia Professor of Economics, UNSW
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Emeritus Professor of Economics (Griffith University) and Teaching Associate (University of Queensland), Griffith University
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Part-Time Professor of Economics, The New School
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Professor of Finance, University of Liverpool
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Professor of Economics, Monash University
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Senior Research Fellow, World Institute for Development Economics Research (UNU-WIDER), United Nations University
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Associate Professor, Department of Economics, University of Otago
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Professor of Economics, Director of the Australian Institute for Business and Economics, The University of Queensland
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Lecturer in Accounting, Finance and Economics, Griffith University
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Director, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne
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Vice Chancellor's Fellow at Victoria University and Adjunct Professor of Economics, Victoria University
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Senior Lecturer, Department of Banking and Finance, Monash University
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Professor of Economics, University of Georgia
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Sir John Bunting Chair of Public Administration, Australian National University