There are a lot of very furrowed brows over the debt position with very serious mutterings about ‘what is in reserve’ if the geopolitical situation goes to sh*t. So there are a lot of questions about that floating around this morning. Here is Anthony Albanese’s answer to one of them:

What we’ve done is, through our responsible economic management, turn a liberal deficit that we inherited a $78 billion deficit in the first year into a $22 billion surplus, and we’ve continued to provide fiscal policy that was responsible. We have forecast the deficit this year is half of what was forecast at the last election, and combined, we have improved the budget bottom line by $207 billion in the year ahead.