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Peter Costello blasts Labor for burdening Australia with trillion-dollar debt

2026-04-21 News & Politics
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Sky News Australia
Sky News Australia
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Former treasurer Peter Costello criticises the Labor government for plunging Australia into a trillion dollars of debt, describing the situation as “heartbreaking”. “It’s heartbreaking to have worked so hard and to have got Australia into such a good position … Australia stood out, and we were admired around the world,” Mr Costello told Sky News host Peta Credlin. “Rather than this being a gift to generations of future Australians, we’ve now borrowed a trillion dollars.”

Top Comments (10)

@Henry1965ism 2026-04-21

To go from debt free to $1 trillion debt for a nation the size of Australia in just 20 years really is staggering.

304 19 replies
@shazzle_health 2026-04-22

Australia needs to unite and sack the government

56 3 replies
@AU2018-y9u 2026-04-21

because the leaders are incompetent. It's very sad that Australia ends up in such situation.

487 63 replies
@kaylenehall-t1v 2026-04-22

Why haven't this government been taken to court over so much mishandling so much for justice

39 2 replies
@user-bo6kx3ji3u 2026-04-21

Albo did not even know the unemployment rate before he was elected!!!!

249 7 replies
@TheZeusflea 2026-04-23

I feel sick to my stomach regarding our debt. In just 20 years 🤢🤮

29
@arthurfilippidis9170 2026-04-21

Cut the public service and save Australia

159 8 replies
@franchk8372 2026-04-24

Two voices of commonsense and integrity ... sorely missed in government.

16 1 replies
@paulypaulypauly8011 2026-04-21

We need LESS politicians. Seriously… so many people doing so little for so much.

85 3 replies
@DavidHill-g2d 2026-04-23

And this is just the Federal debt, it DOES NOT included the state governments debt.

18 1 replies

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