House debates Questions without Notice

Interest Rates

Monday, 23 February 2009 House of Representatives

Nola Marino

Nola Marino Forrest, Liberal Party

4:01 pm

My question is to the Treasurer. I refer the Treasurer to recent cuts in official interest rates. Treasurer, a company in my electorate has a business overdraft facility with Westpac Bank. With the current cash rate at 3¼ per cent, why is this company still paying 10.1 per cent interest?

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