Public debt set to 'skyrocket' amid COVID-19 'spending spree' 28/01/2021|6min
A newly published report shows public debt is set to "skyrocket" to $1.75 trillion in the next five years, thanks to an $800 billion coronavirus "spending spree" from Commonwealth, state and territory governments, says Peta Credlin.
Analysis from the Centre for Independent Studies forecasts Commonwealth net debt hitting 61 per cent of GDP by 2024.
Senior Fellow at the Centre for Independent Studies Robert Carling authored the report and spoke to Sky News host Peta Credlin about the issues facing the nation.
"The most likely situation we face is that the debt will continue to increase over the next few years," Mr Carling said.