Aug 20, 2026 – 8.33amFederal government debt will surpass $1 trillion for the first time on Thursday, putting pressure on the Albanese government to rein in the budget deficit or risk an even larger share of taxpayer revenue being swallowed by interest payments.Debt will briefly push through the $1 trillion mark when the Australian Office of Financial Management issues $4 billion of syndicated 2038 Treasury Bonds. It is expected to fall back beneath the $1 trillion threshold on Friday as other bonds mature.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Federal debt passes grim $1 trillion milestone for the first time
The milestone puts pressure on the Albanese government to rein in the deficit or risk an even larger share of taxpayer revenue being swallowed by interest payments.
104 words~1 min read
