Wednesday, August 24, 2005


Funding Tax Cuts with Debt - $12.8bn of it

Keith Ng lays it out quite tidily:It's a very simple and seemingly innocuous line in Key's press release yesterday: Gross sovereign issued debt is forecast to be approximately 1% higher relative to GDP than currently by the end of the forecast period. Well, this is harmless, isn't it? According to Treasury forecasts, gross debt will be $34b in 2008/09, or 19.1% of GDP. So what's one more percent? ... (more)


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