If you believe that Abbott will be PM next week, then Abbott...

If you believe that Abbott will be PM next week, then Abbott will be in charge of the purse strings.

Abbott only needs to add around $138b of debt to have the Liberal's share of debt match what Labor added to debt since the Howard government.

Considering around $30b to $50b could be added to debt by Abbott this financial year alone, it is quite achievable for Abbott to own half the gross debt by the end of his term.

$205b Labor debt. 2008-13
$67b Liberal debt. 2007-08

$138b of Abbott debt to make the Liberals share of the gross debt $205b, equal to Labors share of debt at $205b.

Going by what Abbott has claimed he will do and how he hasn't shown how he is going to replace revenue he is cutting. I'm estimating Abbott will add a minimum of around $70b to $90b to debt in his first term of government.

So he may come within $50b of matching Labors debt in his first 3 years of government.


It will be interesting to see if all those here on HC who have previously had trouble distinguishing between gross and net debt suddenly understand the difference.