FactCheck: Is Australia spending over $100m a day more than collected in revenue?

“At the moment, we are spending over $100 million a day more than we’re collecting in revenue. Now that’s unsustainable, particularly given we’re spending nearly $40 million a day on the interest on the debt that we have.” – Treasurer Joe Hockey, interview with Alison Carabine on RN Breakfast, February 3, 2015__.

Mr Hockey has made similar statements in multiple interviews to support the government’s position that cuts to spending are needed to reduce the deficit.

Read full article in ‘The Conversation’ here.

Updated:  28 March 2024/Responsible Officer:  Crawford Engagement/Page Contact:  CAP Web Team