Australia Losing AAA Rating Is Inevitable, Hewson Says
- Former Liberal leader, central bank economist speaks on Sky TV
- Australia’s top credit rating still pressured, S&P has said
MELBOURNE, AUSTRALIA - NOVEMBER 22: The Australian flag is waved by protesters during a Reclaim Australia rally held in Melton on November 22, 2015 in Melbourne, Australia. Protestors gathered near the Melton Community Hall to voice their opinions on Australia's laws and cultures.
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It’s only a matter of time before Australia loses its AAA credit rating as the nation’s budget falls further into deficit, according to John Hewson, a former Liberal Party leader and central bank economist.
“The fact that we are going to lose the triple-A credit rating is a foregone conclusion, it’s just a question of timing,” Hewson, who was leader of the Liberal opposition in the 1990s, told Sky News TV on Sunday.