Today, the Reserve Bank met, but they did not cut interest rates.
This decision was expected by economists. However, it was still very disappointing for those with a mortgage.
For many looking to buy a home, high interest rates make it really tough.
This in turn puts even more pressure on the rental market.
Under Labor, there have been 12 interest rate rises. There has been just one cut.
By contrast, in the last year the USA and UK have had three interest rate cuts, New Zealand four, the Euro Area six and Canada seven.
Interest rates are strongly linked to inflation. Under Labor, Australia’s core inflation has been higher, on average, than any major advanced economy.
We need to do better.
The Liberals will focus on strong economic management, to take pressure off inflation and interest rates.
We will reduce wasteful spending that fuels inflation, support small businesses and lower energy costs.
The Liberals' plan will take additional steps to make housing more affordable.
This includes unlocking housing supply, by investing in infrastructure needed to build homes.
We will assist first home buyers and restrict foreign investors.
And we will address cost blow outs in construction, by restoring the building industry watchdog and deregistering the lawless CFMEU.
The Liberals are determined to strengthen our economy and make housing affordable for everyday Australians.
