Australia Must Raise Debt Ceiling, Treasury Secretary Says

The Australian government may have difficulty operating unless lawmakers approve an increase to the country’s gross debt ceiling, Treasury Secretary Martin Parkinson said.

“I couldn’t imagine the parliament would be so foolish not to do so,” Parkinson told the Senate Economics estimates committee in Canberra today about approving the laws. “Were that to be the case, it would have serious ramifications for the operations of government and I would imagine the government in those circumstances would be forced to find other ways.”