Click on our logo to return to home  
TV Guide News About Us Ways to Watch
  News
 
  News Home
 
main bulletin ]

Australian PM warns deficit may be needed 26/11/2008
22:00:02


The Australian Prime Minister Kevin Rudd has conceded it may be necessary for the budget to go into deficit if economic conditions continue to worsen.

Mr Rudd addressed the parliament for the first time since returning from a meeting with leaders of the Asia Pacific in Peru at the weekend.

He says if the global economy continues to slow again, government revenue will fall and a deficit may be necessary.

"Under those circumstances, it would be responsible to draw further from the surplus and if necessary, to use a temporary deficit to begin investing in our future infrastructure need, including hospitals schools, TAFEs, universities, ports, road, urban rail and high speed broadband."

Produced by Radio Australia and Australia Network

Related Stories

Rio Tinto boss says China will survive recession »

Two Australians face heroin charges in Vietnam »

Australia childcare provider ABC to keep two-thirds of centres open »

More Headlines

Last updated: Thursday, November 27, 2008 at 08:00:01

Scores killed in Mumbai terrorist attacks »

Thai PM rejects army call for fresh elections »

China postpones EU summit over Dalai Lama row »

Sri Lanka says troops poised to capture rebel headquarters »

Fiji's government targets another newspaper »

Australia to run into deficit: govt »

Somalian forces in pursuit of pirates »

Pacific countries demand fair trade with »

Climate change review angers NZ environment groups »

Taiwan offers financial assistance to Solomons »

Rio Tinto boss says China will survive recession »

South Australia seeks workers from Philippines »

High Graphics Version Home     Contact Us     © ABC 2011