Peter Costello was back in the Parliament pushing the big lie yesterday – that the Commonwealth under John Howard “reduced its debt from $96 billion to zero”. In fact, they owe $50 billion, writes Stephen Mayne.
Financial assets
Howard’s state deficit line doesn’t stand up
State government budget deficits are putting upward pressure on interest rates, the Prime Minister has claimed as a rate rise looms.
Despite saying rates should not be lifted next month, the Prime Minister is warning that the states will run up a $70 billion deficit over the next five years.
