abbotts furphy, page-20

"...Better buy an umbrella, it's going to rain next March...Alan Partridge"

Alan Partridge, whether it rains in March or in April, you know by history it is going to rain around that time.

If net debt drops from 15% of GDP down to 2% of GDP over a number of years, then the trend is clear.

Whether net debt reaches 2% of GDP in 2020 or 2023, the trend is still clear.


The budget isn't the debt.

The PEFO debt projections are made on current policies, without changes to the budgets.

Any changes to budgets up or down will affect the debt projections timetable. But the trend is still there.

Hockey has added around $15.4b extra to the budgets, so the timetable to reach zero net debt will be increased.

Debt to reach zero net debt around 2023-24 with no policy changes.

If negative changes are made to the budget, like Hockey's additional $15.4b spending, the time when we reach zero net debt will be later.