House debates Questions without Notice

Economy: Household Debt

Tuesday, 5 September 2006 House of Representatives

Wayne Swan

Wayne Swan Lilley, Australian Labor Party, Shadow Treasurer

2:29 pm

My question is to the Treasurer and relates to the Reserve Bank’s measure of debt servicing for households. Can the Treasurer confirm that increased household debt, coupled with the seven back-to-back interest rates rises since April 2002, has resulted in households paying a record share of their incomes in mortgage interest payments? Can the Treasurer identify any period previously where households were losing a greater share of income in mortgage interest repayments than today?

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