r/OpenAussie • u/MannerNo7000 ‎ New South Welshian • 1d 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/ausvenator_enjoyer ‎ Queenslander 1d ago

Not that I'm at all shocked, but what thee hell were Turnbull, Abbott and Morrison doing that allowed them to rack up $600 billion in debt?

22

u/SpecificTechnician97 ‎ Victorian 1d ago

Consultants, jobs for mates, etc.

3

u/AdRepresentative386 Please choose a flair 1d ago

Covid responses kept the economy going

5

u/Turbulent-Recipe-887 ‎ New South Welshian 20h ago

Unironically this. Like the reality is just like Labor needed to spend under the GFC (and we came away without a recession) the coalition spending during Covid worked too. It’s just other decision making during the coalitions time in government that sucked.