The stage-three tax cuts, reformulated in January, benefit all taxpayers. Follow the day’s news live
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Finance minister Katy Gallagher was asked what another interest rate increase would mean for households while speaking to ABC TV this morning:
I don’t think it’s useful for me to speculate about a hypothetical situation or a decision taken by the independent Reserve Bank, but we know for the interest rate [increases] we’ve had to date they’ve had a huge impact on household budgets and they’re having a significant impact on the economy.
You can see it through a range of data sets, whether it be in retail trade or consumption, you’re seeing the impacts of those interest rate increases come through that data but we know more importantly, when people are putting their household budgets together, they’re under pressure, particularly if you have a mortgage.
Continue reading…The stage-three tax cuts, reformulated in January, benefit all taxpayers. Follow the day’s news liveGet our morning and afternoon news emails, free app or daily news podcastFinance minister Katy Gallagher was asked what another interest rate increase would mean for households while speaking to ABC TV this morning:I don’t think it’s useful for me to speculate about a hypothetical situation or a decision taken by the independent Reserve Bank, but we know for the interest rate [increases] we’ve had to date they’ve had a huge impact on household budgets and they’re having a significant impact on the economy.You can see it through a range of data sets, whether it be in retail trade or consumption, you’re seeing the impacts of those interest rate increases come through that data but we know more importantly, when people are putting their household budgets together, they’re under pressure, particularly if you have a mortgage. Continue reading…