Question Time AU

General Debate

Economy

House of Representatives · Thursday 20 August 2026

Official Hansard for this day (APH) · Read this debate on OpenAustralia

At a glance

The Liberal Party moved a motion to note that Australia's federal debt had reached $1 trillion, attributing this milestone to the government's spending policies and inflation agenda. The motion argued that rising debt and deficits would burden future generations and reduce household disposable incomes. The National Party seconded the motion, highlighting concerns about increasing bond yields and the government's reliance on taxation rather than economic growth. The government did not speak during the debate but voted against the motion, which was defeated in a division.

Outcome

The motion was not passed, with 41 votes in favour and 85 against.

Summary in reported speech - not a transcript. AI-generated, so check the official record before quoting.

How the debate unfolded

Opened the debate

Tim Wilson (Goldstein) (Liberal Party) Liberal

Wilson argued that the $1 trillion debt threshold was a direct result of the government's strategy to stoke, tax, and spend inflation. Wilson claimed that government spending had risen from 24.3 per cent to 26.8 per cent of GDP, adding $5,000 in annual costs per taxpayer. Wilson cited budget forecasts showing deficits continuing until at least 2034-35, with debt projected to reach $1.5 trillion by the end of the decade. Wilson contended that this debt effectively imposed a $2,000 annual tax liability on each Australian, reducing real wages by $1,600 per year. Wilson proposed a tax back guarantee to adjust income tax thresholds and prevent further erosion of household incomes.

Votes during this debate

Division 3: Economy Not passed 41–85