Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

What we have here from the shadow Treasurer is the fiscal fearmongering campaign writ large. What we have here is a situation where net debt peaks at 11.4 per cent in 2014—a very modest level of debt, particularly compared to other developed economies.

I have been asked by the shadow Treasurer about the debt cap. Well, the answer to that is it is not necessary to do anything about the debt cap at all but we will review it in the usual way and, if it were necessary, we would lift it.

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