Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

My question is to Senator Minchin, the Minister representing the Treasurer. Is the minister aware of new mortgage repossession figures from the Supreme Court of New South Wales for 2006 which show that mortgage repossession actions have skyrocketed by 75 per cent since 2004? Haven’t the four back-to-back interest rate hikes that have occurred since 2004 been direct contributors to this massive increase? What other explanation does the minister have for these figures, which had such a devastating impact on 100 families in New South Wales every week last year? What is the government going to do to help the thousands of Australian families who are at risk of having to walk out of their homes because of the five years of interest rate hikes under this government?