With today’s interest rate rise, families in the ACT are paying an average of $212 more a month since Mr Howard promised to ‘keep interest rates at record lows’.
“Today’s interest rate rise alone will add $36 a month to the typical mortgage in the ACT”, Senator Lundy said.
“This is the sixth straight interest rate rise since Prime Minister John Howard’s misleading promise at the 2004 election. Mr Howard has well and truly broken that promise”, Senator Lundy said.
Data from the Australian Bureau of Statistics’ 2006 Census shows that the typical mortgage in the ACT is $215,000.
Today’s interest rate rise means mortgage repayments are up by:
 |
$212 after six rises since 2004 election; |
|
$347 after 10 straight rises since 2002. |
These payments are now eating up around 20 per cent of local families incomes.
Today’s news will put more pressure on families already hurting from:
|
42 per cent increase in petrol since 2002; |
|
21 per cent increase in cost of food since 2002; and |
|
Child care costs doubling under Mr Howard. |
Families have a right to know how Mr Howard can say ‘working families in Australia have never been better off” when it’s so hard to make ends meet.
Federal Labor has a plan to fight inflation – helping to put downward pressure on interest rates and ease the cost of living pressures on families.
Our plan includes helping families face cost of living pressures by providing:
|
A 50% Child Care Tax Rebate, up to $7,500 a year on child care costs; and |
|
A 50% Education Tax Refund on eligible expenses of up to $750 for primary school kids and $1,500 for secondary school students. |
Contact: Rachel Allen – 6230 0411 or 0418 488 295
