Charles Hugh Smith article on MMT (Modern Monetary Theory), page-39

67% of Aussies own their own home ; some outright and others paying off a mmortgage:
https://www.savings.com.au/home-loans/by-the-numbers-australian-home-ownership-tenancy-statistics

So when I say "we" I mean the majority (67%)

If the Government does not intend to pay down the Soverign Debt, then why is it paying interest on borrowings as per last year's budget.

The benefit of a 10 year Government bond at 1% interest and 2% inflation is obvious.