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Haines warns of "threshold of anger" on interest rates



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COMMONWEALTH PARLIAMENTARY LIBRARY MICAH

M E D IA RELEASE t— ---------------------- -— " ■

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THE SCN-*t

February 7th, 1989

PR No 89/032

HAINES WARNS OF * THRESHOLD OF ANGER* ON INTEREST RATES

The Leader of the Australian Democrats, Senator JANINE HAINES,

has said that home interest rates of 172, predicted by a leading

banker today, would lead to homebuyer6 'crashing through the

threshold of anger* and has called on the Government to widen the

proposed Housing Summit to include consumer representatives.

Senator HAINES said that it was becoming clear that for many

Australians any tax cute in duly would go straight into mortgage

repayments and not provide any real relief to living standards.

“The summit must he representative, not only of government

and industry, but of the consumers. Any attempt to limit

the agenda to the release of Government lands, and a review

of State Stamp Duties would rightly be seen as a

whitewash,' she said.

"Those people who have unregulated mortgages, which is

nearly all, are very close to crashing through the

threshold of anger. If this threshold is crossed then it

will lead to increased political volatility, in turn

damaging our reputation amongst the international financial

community. I urge the Government to pull its head out of

the sand now so that this threshold of anger is not

crossed." .

FURTHER INFORMATIONS MARY K1TS0N (08) 223 1866

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