Australian Capital Territory $1 Billion in the Red as Health Spending Rises

The small Australian Capital Territory (ACT) is facing a budget deficit of almost $1 billion, which is expected to worsen over the next 35 years, and is now pushing the federal government to come to the rescue.

ACT Labor Treasurer Chris Steel has blamed the Territory’s small taxation base (centred around the public service) and aging population for the parlous economic prospects of the jurisdiction.