Political Blog
Monday, August 07, 2006
Interest Rates
The big news last Wednesday was the interest rate rise. The big news on Friday was the Reserve Bank’s admission that the tax cuts that came into effect on 1 July were a factor in the upward pressure on interest rates.What didn’t make the new was that it was only the Greens Senators that had opposed those tax cuts – which were massively skewed in favour of the rich.
While Shadow Treasurer Wayne Swan was all over the media attacking the Government for causing the rate rise, it seems the fact that his party voted for the tax cuts – thereby helping rates rise - was lost.
Laurie Oakes at least had the sense to ask Kim Beazley if Labor, given the interest rate rise, still supported the tax cuts. A follow up question though, asking Beazley if he was hypocritical to support the tax cuts and criticise the Government over interest rates, was not forthcoming.
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I hope you enjoy some of my ideas and analysis. I am unashamedly Green and much of what you will find here relates to Green politics however I write about a range of current state and national political issues that might have wider appeal.
