Debt Reductionon

Debt Reductionon

The Business Council of Australian government wants debt paid down before the gains from the mining boom are invested in a fund prosperity.

There was much wisdom in using the commodities boom nationals to increase savings, council president Graham Bradley said.

Mr Bradley was responding to a suggestion from Reserve Bank governor Glenn Stevens on Tuesday, raising savings that would be a “prudent approach” to the current period of exceptionally favorable international prices.