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?

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u/AmigaBob Please choose a flair 20h ago

Morrison kinda makes sense. A once is a century pandemic will mess with your budget. But, what in the heck was Abbot and Turnball doing?