It is staggering what the Australian Federal Government Will owe in 2020-2021. Never mind what the States and Territories will owe. The Coronavirus Pandemic has obliterated any hopes for a surplus for many years to come. Our children's, children, children will be paying it off during their working lives.
The Federal Government will owe $1,000,000,000,000 (AUD 1 Trillion). The government has thrown money at the economy, at the unemployed, grants and other numerous hand-outs to Australians. During that time the income the Government collects is down i.e. income tax, GST, excise duty, rates, payroll tax royalties etc. etc. The interest on our Government debt is around $48 Million dollars a day!
Below is a slide from my "How to protect your assets in tough times" webinar. As a picture paints a thousand words or this case a Trillion dollars have a look it is huge. We are are conducting a webinar on structures to protect yourself and your family so the banks and angry creditors cannot get their hands on your hard earned money. The Webinar is on the 3rd December 2020 at 7.00pm AEST / QLD time or 8.00pm AEDT / NSW / VIC time. To register click HERE.
|Tags: Federal Govt Debt|