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Australian government clinches deal to scrap debt ceiling

Published on Dec 4, 2013 3:41 PM
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Australia's Treasurer Joe Hockey (above) struck a deal with the Greens on Wednesday, Dec 4, 2013, to scrap the government's debt ceiling a week before the A$300 billion (S$343.4 billion) limit is breached. -- FILE PHOTO: AFP

SYDNEY (REUTERS) - Australia's Treasurer Joe Hockey struck a deal with the Greens on Wednesday to scrap the government's debt ceiling a week before the A$300 billion (S$343.4 billion) limit is breached.

The agreement would see the government provide comprehensive debt reporting in its annual budget papers, mid-year updates and pre-election reports.

The government will also include details of spending on climate change.

Green's Leader Christine Milne said it was a good outcome.

 
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