A budget surplus has proved elusive for federal governments since the global financial crisis, and their failure to achieve one politically damaging, with each side of politics blasting the other for failing to rein in government debt. In November 2018, Labor's shadow assistant treasurer, Andrew Leigh, claimed that net debt had doubled under the Coalition Government and "hit a record high" of "some $350 billion". RMIT ABC Fact Check found Dr Leigh's claim is correct, but there's more to it. The Government's monthly financial statements show net debt has doubled over the Coalition's two terms in government ' from $174.6 billion in September 2013, when it was first elected, to $354.5 billion in October 2018. However, this is not the only way to track net debt. Measured as a share of gross domestic product, which takes the size of the economy into account, net debt grew more slowly over the five years to June 2018 compared to the simple dollar amount. Experts said paying down debt wasn't entirely within the control of government, with broader economic circumstances also playing a significant part. Some Coalition savings measures had also been blocked in the parliament by the Opposition.
Verdict: Yes, but more to it