The wrangle over Australia’s debt ceiling has been headline news over the past week, as the Senate refused to ratify Treasurer Joe Hockey’s bill, lifting it from the current $300bn to $500bn. The Senate passed the bill, but amended it to set the ceiling at $400bn and sent it back to the lower house. Meanwhile, the Green’s leader, Senator Milne, has indicated that if Treasury Secretary, Martin Parkinson, makes a strong case for raising the ceiling to $500bn at the Senate Estimates Committee on Wednesday, they may vote for the $500bn ceiling to be passed in the Senate.
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