Federal debt is paid off


Peter Costello

THE Federal Government will today finally manage to do what most Australians struggle to achieve – pay off the dreaded credit card.

Treasurer Peter Costello has declared today “debt-free day” to mark the Government’s final payment on the commonwealth credit card.

“As best as we can tell, tomorrow, the commonwealth of Australia will eliminate its net debt,” he told the Committee for Economic Development of Australia yesterday.

“Tomorrow, April 21, 2006, will be Debt-Free Day.

“In fact, from tomorrow, our Government will become a net saver, to save for some of the big challenges of the future,” Mr Costello said.

However, Mr Costello warned that even though the national debt would be paid off, it was no time for a government spending spree.

 The Mulindwas Communication Group
"With Yoweri Museveni, Uganda is in anarchy"
            Groupe de communication Mulindwas
"avec Yoweri Museveni, l'Ouganda est dans l'anarchie"
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