‘Losing control’: Labor slammed for adding ‘more than one per cent of GDP’ to deficit

George Washington University’s Steven Hamilton has accused the Albanese government of “losing control” of the budget as its decisions will add “more than one per cent of GDP” to the deficit in the coming financial year. New analysis of budget papers has revealed government decisions have added $78 billion to the national debt, compared to just $13 billion following the election of the previous Coalition government. “I focus on the decisions the government has taken since coming to office, and when you look at those numbers, it is really quite extraordinary just how much those decisions have blown out the deficits over a six-year period,” Mr Hamilton told Sky News Australia. “I think in the coming financial year alone, the government’s decisions have added more than one per cent of GDP to the deficit. “That’s $30 billion in one year, so I would describe that pretty clearly as losing control.”