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Public debt fears fall by $100b
AUSTRALIA'S Government debt is set to top out at just $108 billion rather than the $200 billion used by the Coalition to justify its claim that the Rudd Government plans to ''lump every Australian with $9500 in debt''.
The updated estimate from Westpac - a near halving - reflects a much stronger than expected economy and comes as an official Reserve Bank survey finds that Australian banks increased their interest earnings 22 per cent during the global crisis and that Australian businesses succeeded in raising more money from the sharemarket than at any time since the 1980s.
The updated estimate from Westpac - a near halving - reflects a much stronger than expected economy and comes as an official Reserve Bank survey finds that Australian banks increased their interest earnings 22 per cent during the global crisis and that Australian businesses succeeded in raising more money from the sharemarket than at any time since the 1980s.