Business
Debt problem? Not even a big rate rise will hurt the budget – Sydney Morning Herald
The government is running record deficits and debt but not even a large increase in interest rates will hurt the budget bottom line, according to a study.
Not even a 3 percentage point jump in global interest rates would derail the federal governments budget, with research suggesting the national interest bill is affordable despite record levels of debt.
Global rating agency S&P Global, in work released on Tuesday, said interest rates were so low that a sizeable increase would be manageable for almost every rich country and most large emerging economies.
Treasurer Josh Frydenbergs latest budget forecast record levels of debt and deficit. But a study…
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