As of the 2025–26 fiscal year, Australia’s federal gross debt is projected to be around $940 billion, with net debt estimated at approximately $620 billion.
When Labor was elected in May 2019, the federal gross debt stood at $542 billion, which was about 27.2% of GDP. So in raw terms, gross debt has increased by nearly $400 billion, and the debt-to-GDP ratio has climbed substantially.
the spendthrift minister for communication majors is putting a noose around the next generations throat.
