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Tuesday, 23 August 1994
Page: 25


Senator TAMBLING —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

  (a)condemns the Government for its fiscal irresponsibilities and mismanagement resulting in the Reserve Bank of Australia's decision to raise official interest rates higher and sooner than would otherwise be necessary;

  (b)notes the Government's disregard of evidence that Australia's home finance market has continued its slowdown over recent months;

  (c)deplores the Government's approval of the Reserve Bank of Australia's decision to increase the risk weighting for home loans where equity is less than 20 per cent and its consequent affect on low income earners; and

  (d)expresses concern at the Government's lack of understanding and compassion for the housing needs of Australian families.