Australia’s COVID-19 debt is a ‘two-fold challenge’

Queensland LNP leader David Crisafulli says it will take many decades for Australia to recover from the large debt accumulated as a result of government spending during COVID-19, and the challenge is two-fold.

It comes as the federal government is fast approaching debts exceeding $1 trillion within the next few years.

“The challenge is two-fold, one is you’ve got to stop those short-term stimulus measures … it’s one thing to stimulate but if it becomes business as usual that’s a recurrent expenditure,” Mr Crisafulli told Sky News host Chris Kenny.

“The other issue we’ve got in Queensland … is that we’ve got money being borrowed to fund everyday expenditure.

“If you’re borrowing money it’s got to be for capital projects that actually get your economy going, it’s got to be capital projects that give a return on investment.

“We’ve lost sight of that, and that’s our big challenge to reframe the narrative in the next decade.”

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