Australia's banks are urging Treasurer Scott Morrison to use a mid-year review to show there is a clear plan to repair a broken federal budget.
By the end of 2015/16 Australia would have recorded eight years of budget deficits - some the biggest on record - yet government debt was forecast to increase by a further $151 billion over the next four years, the Australian Bankers Association says.
"Persistent deficits will compromise economic growth and lead to future generations having to pay to support today's lifestyle," ABA spokesman Tony Pearson said in a statement on Monday.
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