Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

Net debt peaks as a percentage of GDP at 9.6 per cent in 2011-12; gross debt peaks as a percentage of GDP at 18 per cent in the same year. The net debt position is the more accurate measure of the financial position of the government, and I remind the chamber that this is around one-tenth of the level of the major advanced economies—