Australia's national debt is set to reach a new high, according to a recent report, but the country's overall fiscal outlook remains stable. The findings highlight growing concerns over the impact of federal tax changes on state and territory budgets. While the debt level is increasing, experts note that the broader economic outlook is not deteriorating. The report suggests that despite the challenges, the government's financial planning is still on track. The situation underscores the need for careful fiscal management as the nation navigues economic uncertainties.