Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

On the question of GDP and 2020, I do not have that number with me. On the question of net debt as a figure, it would be about 75 billion. I also draw the honourable member’s attention to the following: these figures represent, on Australia’s part, a net debt performance that is the lowest of all the major advanced economies. I would say to the honourable member opposite that when net debt peaks for Australia at 13.8 per cent of GDP, the average for the major advanced economies is 88.7 per cent of GDP: for Japan, 131 per cent of GDP; for the United Kingdom, 80; for the United States, 80; Canada, 28; France, 79; Germany, 84; Italy, 125. Then we go to the rest of the economies.

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