Senate debates
Thursday, 25 June 2009
Questions without Notice
Economy
2:00 pm
Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source
Yes, I heard your question, but I point out that there are two forms of debt. There is gross debt and net debt. The Liberal opposition have lapsed into a bad habit of only referring to gross debt. When they were in government, they would refer to net debt generally. So in terms of the gross debt for the 2008-09 financial year, the estimates have shown $111.9 billion. That is the level of gross debt. In terms of net debt, in 2008-09 it is $4.7 billion.
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