Barnaby Joyce (Queensland, National Party) Share this | Hansard source

With all due respect, I listened but I do not think I heard the answer, so I will try and be more precise: are you going to borrow more money to pay for the interest on the money we have borrowed in the short term? From what you say, Minister, it sounds like that is exactly what we are going to do, because you talked about the collapse of income. Can you give me a date as to when the $200 billion for the facility will be fully drawn? These are three distinct questions. The third question is: what effect have you been told the Australian government borrowing money—and, because it has not been denied, it must be sustained that we are going to be $270 billion to $300 billion in debt in the near future—will have on the cost of funds for other Australian individuals and corporations that are in the market? Will everyone else have to pay a one per cent premium, a two per cent premium or a three per cent premium, or don’t you have any advice on that matter?