Rate hikes threaten to gobble up federal budget servings
The parallels between the Australian Government’s annual deficits and mortgage borrowers on the brink of financial stress are striking, highlighted by data released on the same day the federal budget was released.
Treasurer John Frydenberg delivered the 2022-23 budget. (Image source: Shutterstock.com)
The parallels between the Australian Government’s annual deficits and mortgage borrowers on the brink of financial stress are striking, highlighted by data released on the same day Treasurer Josh Frydenberg delivered his federal budget.
As the latest $99.2 billion annual deficit pushed debt to a record $868 billion, financial comparison site Canstar found one-third of borrowers at or close to the edge of being unable to meet household costs.
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