Witness the businomics ideology go to work. At The Australian:
Debt across Australia’s states will explode by more than $100 billion, as governments boost spending on infrastructure and public servants at the same time their budgets are being sideswiped by weak GST revenue, slowing economic growth and plunging stamp duty revenue.
An analysis of this year’s budget papers by The Australian reveals combined government sector net debt across the eight states and territories will more than double from $81bn this financial year to more than $184bn by the 2023 financial year.
