Crossbench senator Nick Xenophon has expressed dismay at Treasury's response to the level of household debt in Australia, second only to Switzerland.
Senator Xenophon, who says household debt in Australia is running at about 160 per cent of national income, having quadrupled over the past 30 years, was critical of Treasury Secretary John Fraser's response to the issue during a Senate hearing on Monday.
"I find it extraordinary he doesn't have a view as to what the level of household debt as a percentage of GDP is when it gets to dangerous levels," the senator told reporters in Canberra on Tuesday.
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