$60m a day: soaring interest bill on Australia’s debt eclipses cost of childcare or infrastructure
by Paul Karp Chief political correspondent from World news | The Guardian on (#6BEET)
Treasurer says $112bn cost over five years is one of fastest growing pressures on budget, blaming Coalition for the mess' it left
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Interest payments on commonwealth government debt will cost the federal budget $112bn over five years, or $60m a day.
The treasurer, Jim Chalmers, revealed the soaring cost of debt ahead of Tuesday's budget, which will show interest now costs more than the family tax benefit, childcare or infrastructure.
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