Government Spending and Government Debt

John Fraser: Treasury secretary John Fraser warned in a speech last week there is a government spending problem at over 25 per cent of GDP and Australia triple-A rating could be at risk in the future if government debt is not brought under control, according to Nine News Australia. Mr Burke said since the coalition came to power, expenditure has kicked over the 25 per cent mark."Gradually bringing that down ... is something you want to work towards," he told Sky News on Sunday. But the opposition finance spokesman also believes the country has a revenue problem. At the same time, revenue is well below 25 per cent. Taxing too hard or pulling back expenditure without considering the future or economic confidence won't work for the economy even if the numbers line up around 25 per cent. However, he said whether you are trying to improve revenue or reduce expenditure you need to consider the impact on household budgets. (news.financializer.com). As reported in the news.