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Budget 2026: Big spending continues as slightly improved debt still at record level

Budget 2026: Big spending continues as slightly improved debt still at record level

Treasurer Bill Yan delivered his second budget Tuesday morning that contains no “lollies or sweets”, with the Finocchiaro CLP Government overseeing a record net debt that will now top $11.35 billion this year and grow to $12.56 billion in 2026-27 – less than previously estimated due to better than expected revenue streams and less spending on infrastructure projects – while Mr Yan said the government is “living within our means” despite no substantive plans to reduce the debt.

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