The Consequences of $1 Trillion of Debt | Peter Costello AC
April 17, 2023
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4:24Now PlayingThe Consequences of $1 Trillion of Debt | Peter Costello AC
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as posted by the channelIn this clip from a recent interview, John and former Treasurer Peter Costello discuss the real consequences of a growing debt burden on the Australian people. With a federal debt nearing 1 trillion dollars, Peter warns that it is future generations that will bear the brunt of servicing the debt, which is set to increase to increase by tens of billions as interest rates rise.
See their full interview here
The Hon Peter Costello AC served as the Federal Member for Higgins for seven consecutive terms. He was Deputy Leader of the Liberal Party from May 1994 to November 2007, and was Treasurer from March 1996 to December 2007. He brought down twelve consecutive Federal Budgets, including ten surpluses, and eliminated Commonwealth Government debt in net terms.
He has served in various senior governance roles including as Chairman of the Independent Advisory Board to the World Bank, Chairman of the Australian Future Fund and Chairman of Nine Entertainment Co. He is a highly respected commentator on social and economic issues. Prior to his political career, he worked as a solicitor and barrister at leading firms in Melbourne.
#debt #economics #clip
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Peter Costello
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