Scott Morrison to lift credit limit as Australia's debt hurtles towards $500 billion

By Adam Gartrell
Updated January 30 2017 - 6:10pm, first published 8:17am
Treasurer Scott Morrison, pictured in London this week, says the government is making progress in reining in Australia's debt. Photo: Chris Ratcliffe
Treasurer Scott Morrison, pictured in London this week, says the government is making progress in reining in Australia's debt. Photo: Chris Ratcliffe
Shadow treasurer Chris Bowen says Australia's AAA credit rating is under threat. Photo: Josh Robenstone
Shadow treasurer Chris Bowen says Australia's AAA credit rating is under threat. Photo: Josh Robenstone

The federal government will be forced to lift its own self-imposed credit limit in the coming months as debt hurtles towards half-a-trillion dollars - almost double the number the Coalition inherited from Labor.

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