Australia's debt will peak at about $300 billion, Prime Minister...

Australia's debt will peak at about $300 billion, Prime Minister Kevin Rudd says.

Mr Rudd had to be asked the question several times on ABC Television before would name a figure.

He said the peak projected public debt would be 13.8 per cent of GDP in 2013/14.

"We're aiming to a gross figure of 13.8, which comes out at about 300 (billion)," Mr Rudd said