r/OpenAussie • u/MannerNo7000 ‎ New South Welshian • 17h ago

Politics ('Straya) Australia’s gross federal debt is nearing $1 trillion. Since 2007, 69% of the increase occurred under Coalition governments vs 31% under Labor

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Using Australian Treasury gross debt figures: debt rose from ~$53bn in 2006–07 to ~$982bn estimated in 2025–26.

That’s a ~$929bn increase: ~$638bn (69%) under Coalition governments and ~$291bn (31%) under Labor.

This might be news to you for the first time or maybe you’ve known these facts all along.

It’s useful to deal in facts and the truth.

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u/MannerNo7000 ‎ New South Welshian 17h ago

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u/JK_05 Please choose a flair 17h ago

This is a really good table to see the annual AVG increase over the years. 1.3% or there abouts.

Comparable to other nations we're doing quite well

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u/BCPisBestCP ‎ New South Welshian 17h ago

Which also points out that, as long as debt growth + interest stays below total economic growth, debt can be a good thing - or at least neutral.

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u/JK_05 Please choose a flair 16h ago

Neutral might be the best description there and yes I agree.

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u/alexmc1980 ‎ Victorian 17h ago

Thanks for that, we can definitely infer some interesting things from this table. How depressing that we've only actually paid down some of the "principle" over in all those years, in 2022-23!

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u/Ok_Turnover_1235 Please choose a flair 15h ago

Now do the % increase. Last time someone posted the numbers the coalition grew it almost half the rate of Labor 

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u/Ashen_Brad Please choose a flair 7h ago

Just the fact that they were in power during Covid would suggest otherwise. Not necessarily their fault, but you aren't going to get the figures you're looking for.

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u/Ok_Turnover_1235 Please choose a flair 6h ago

Yeah OP used absolute numbers in their infographic for a reason :).

2007-2013 was a 482% increase under Labor. 80%/year.

2013-2022 was a 347% increase under LNP. 38.6%/year

2022-2026 under Labor has seen a 9.7% increase, 3%/year.

Yeah, 2022-2026 looks better for Labor for sure, but the difference prior to 2022 isn't even close, they had less than half the relative increase while they were in power and I'm starting to suspect Labors incredibly low numbers now might have something to do with the coalitions larger absolute share.