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Flat White

Borrowing binge raises the debt roof

31 January 2017

12:04 PM

31 January 2017

12:04 PM

Scott Morrison returns to his desk this week with enthusiasm for company tax cuts reinforced by impressions gained from an overseas trip. But his attention will also be drawn back to the budget deficit as he faces the imminent prospect of needing to raise the Commonwealth debt ceiling.

At least all he has to do now is write a letter to the Australian Office of Financial Management – the Treasury offshoot that manages Commonwealth debt.

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