LABOR’S DEBT
Every minute, Australians pay $48,489 in interest on Labor’s debt.
Debt interest takes money away from other priorities. The $25.5 billion in debt interest this year, could otherwise fund (approx):
- Over 200,000 nurses.
- Around 400,000 (high needs) aged care home packages.
- Around 1,000 kilometres of major regional highway upgrades.
- Tax relief of around $1,600 per year for every taxpayer.
Under Anthony Albanese, Australians have suffered the biggest fall in living standards in the developed world, been hit with 14 interest rate rises, and saddled with a trillion dollars of debt — yet he still tells Australians that things are getting better.
Labor's addiction to spending is driving up the cost of living and will leave a $1.2 trillion debt bomb for the next generation.
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Every single minute, Australians are paying $48,489 in interest on the national debt. Find out what each person owes at debtclock.au
The debt clock is based on debt issued by the Australian Office of Financial Management. The tally on the AOFM’s website is updated each Friday. Differences between figures may be explained by the timing of website updates.