MEDIA RELEASE
Family First has renewed its call for urgent action to tackle Australia’s spiralling government debt, warning that reckless spending is fuelling inflation today while robbing future generations of prosperity.
National Director Lyle Shelton said former NSW premier Mike Baird had sounded a critical warning that Australia is “no longer a low-debt country” and that governments must confront the consequences of unsustainable spending.
“Mr Baird is right — ‘sustainable government means being clear about trade-offs’ and acknowledging that ‘not every demand can be met without consequence’,” Mr Shelton said.
“With federal debt set to smash through $1 trillion and interest payments already costing taxpayers around $48 billion a year, Australia is living beyond its means — maxing out the national credit card.”
Mr Shelton said this level of borrowing amounts to intergenerational theft.
“Today’s politicians are buying votes with borrowed money, driving inflation now and handing the bill to our children. This is morally indefensible.”
Family First pointed to respected historian Niall Ferguson, who warns that when a nation’s interest payments exceed its defence spending, it risks decline or collapse.
“We are heading down that path unless urgent action is taken,” Mr Shelton said.
Mr Baird also warned that state governments now hold around half of Australia’s public debt, highlighting a systemic failure across all levels of government.
“This is not just a Canberra problem — it’s a national addiction to spending,” Mr Shelton said.
Family First said the solution is clear: cut government spending and grow the productive economy.
“We must unleash Australia’s natural strengths — drill baby drill for oil, gas, coal and uranium — to restore revenue and lower energy costs,” Mr Shelton said.
“Equally important is restoring the family to the centre of public policy, incentivising strong households to take back responsibilities that an overgrown welfare state has absorbed.
“Australia cannot borrow its way to prosperity. It must rebuild it — for the sake of the next generation.”