The head of one of Australia's biggest banks has slammed the quality of debate about debt in this country, labelling it ''very immature''.

National Australia Bank chief executive Cameron Clyne said we had a ''unique window'' as a AAA-rated country to issue more government debt to fund desperately needed infrastructure.

Cameron Clyne says we ought to issue debt and divert it to infrastructure. Credit:Josh Robenstone

''Australia has a debt problem: we don't have enough,'' Mr Clyne said on Thursday.

''If we continue to have the debate that suggests that all debt is bad, and not a debate on the productive use of debt, we will simply not be able to fund the infrastructure this economy needs to thrive into the future.''