Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Hansard source

My question is to the Prime Minister. Is the Prime Minister aware of new figures from Deutsche Bank which estimate that household debt is now a record 171 per cent of household disposable income—double the level of a decade ago? Does the Prime Minister agree that this greater exposure of households to debt means that the slightest increase in interest rates hurts households’ budgets? Doesn’t this new interest rate reality explain why household debt servicing obligations are higher today after your seven back-to-back interest rate hikes than when interest rates were 17 per cent under Mr Keating?

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