Thank Labor’s budget for yet another mortgage hike
Tuesday June 6 2023
Federal Member for Page Kevin Hogan said families have been hit hard by Labor’s big-spending budget that has fuelled yet another interest rate rise today.
“I fear many struggling local families and small businesses won’t be able to cope with this, the twelfth consecutive rate increase under Labor, with household budgets already stretched to the limit,” Mr Hogan said.
“Labor’s callous disregard for managing inflation has added more than a thousand dollars to most mortgages. The latest 0.25 per cent increase is made all the more painful by the fact the big spending promises made by Anthony Albanese and Jim Chalmers that caused it did almost nothing to help the working Australians Labor once claimed to represent.
“We were warned life wouldn’t be easy under Albanese and this is a sad case of history repeating for those of us old enough to remember what happened under Labor previously when inflation was allowed to get out of control.
“Already we’re seeing people struggling to meet mortgages payments and local small businesses closing their doors. Sadly rates will remain higher for longer as a result of the decisions of the Labor Government.”
ends
