Pop. That is the sound of the pin of reality piercing the inflated balloon of Australian economic wishful thinking.
Victoria and NSW have lost their prized AAA credit ratings, with ratings agency S&P Global downgrading both states on Monday in moves that put a cloud over the federal government’s own AAA rating.
So much for all the spin that Australia’s government debt is less than that of other nations.
Already a subscriber? Log in
Subscribe for just $2 a week
Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Or
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in