According the ABS, our nett foreign debt now stands at 735 Billion.
Labor have done nothing to arrest the rise in Foreign Debt, and have turned a Government with no nett debt into one that now does. In fact I would reckon our nett foreign debt is escalating quicker now that ever before.
"Australia's net international investment position increased $1.7b to a net liability position of $854.7b in the December quarter 2011. Australia's net foreign equity liability increased $7.5b to a liability position of $119.3b. Australia's net foreign debt liability decreased $5.8b to a liability position of $735.4b."
