Senate debates

Tuesday, 2 August 2022

Questions without Notice

Interest Rates

2:32 pm

Photo of Nick McKimNick McKim (Tasmania, Australian Greens) Share this | Hansard source

I note the announcement is that interest rates are up by 50 basis points. Profits are at record highs, and wages' share of national income is at record lows. The European Central Bank has identified that corporate profits are surging on the back of the recent increase in inflation. Will you finally accept that corporate profiteering is contributing to inflation in Australia?

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