Today\u2019s interest rate rise will further entrench economic inequality and deliver more money into the pockets of the 1 per cent at the expense of renters and mortgage holders, the Greens say.<\/p>\n\n\n\n
Greens Economic Justice Spokesperson Senator Nick McKim:<\/strong> Greens spokesperson for Finance, Housing and Homelessness Senator Barbara Pocock:\u00a0<\/strong><\/p>\n\n\n\n \u201cThis is not the news homeowners needed to hear today. Millions of Australians are already in mortgage stress, already hurting in a cost of living crisis.<\/p>\n\n\n\n \u201cAnother rate hike is simply punishment for homeowners and more profit for the banks already raking it in on home loans. We need to tax the 1%, not hard working people.<\/p>\n\n\n\n \u201cRates hikes won\u2019t fix the housing crisis but a government that treats housing as a human right will.\u201d<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Today\u2019s interest rate rise will further entrench economic inequality and deliver more money into the pockets of the 1 per cent at the expense of renters and mortgage holders, the Greens say. Greens Economic Justice Spokesperson Senator Nick McKim: \u201cThis is another kick in the teeth for mortgage holders and renters who are already being … Continue reading “Rate rise pain won\u2019t be felt by the top 1%”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-38773","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/38773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=38773"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/38773\/revisions"}],"predecessor-version":[{"id":38774,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/38773\/revisions\/38774"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=38773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=38773"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=38773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cThis is another kick in the teeth for mortgage holders and renters who are already being smashed by rising costs.\u201d
\u201cThis will punish people who are suffering the most and are not responsible in any way for inflation, while the super rich who have cash in the bank will sit back and watch their wealth grow.\u201d
\u201cThe top 1% will be popping the champagne corks at the extra money they\u2019ve just been handed by the Reserve Bank and a Labor Government sitting on its hands.\u201d
\u201cRaising interest rates will not stop the war in the Persian Gulf and it will not bring fuel prices down. But it will send many Australian households to the wall.\u201d
\u201cThere is plenty that Labor could do to put downward pressure on inflation, like making price gouging illegal and making the top 1% and big corporations pay their fair share of tax.\u201d<\/p>\n\n\n\n