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Debt to hit new high but nation’s budget outlook steady
THE Middle East conflict, a deepening housing downturn and infrastructure cost overruns threatenAustralia’s combined budget position, the Parliamentary Budget Office has found. The aggregate national fiscal position, which combines the Commonwealth and state and territory budgets, was broadly unchanged compared to the previous year’s outlook, the office said in a report on Wednesday. But the states faced common risks in their efforts to return to surplus over the medium term. Given states’ dependence on stamp duty on property transaction, the deepening nat
