Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

My question is to the Treasurer. I remind the Treasurer of his previous statement that servicing foreign debt will place a burden on future generations. I remind him of his claim that Labor’s concern about foreign debt stems from what foreign debt says about our capacity to compete in the global economy and the risk that ever-increasing levels of foreign debt may mean for interest rates. Now that this, the biggest spending government in Australian history, is borrowing $3 billion a week—$2 billion from overseas—what does the Treasurer believe will be the impact on interest rates of this massive increase in foreign debt?

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