House debates Questions without Notice
Economy: Household Debt
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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