Fanciful promises of reducing debt won't protect our AAA credit rating
- Written by The Conversation Contributor
We have watched this movie before. The 2016-17 Budget is yet another budget projecting a gradual decline in government debt as a share of national output (Gross Domestic Product) over the next decade, from 18.9% of GDP today to 9.1% of GDP in 2026-27.
This is fanciful on the basis of recent budgets, which have failed spectacularly at achieving debt...