Shadow treasurer for the United Australia Party, Clive Palmer, said today the 25-basis-point rise to 0.35% was a clear indicator that interest rates would continue to rise after the Federal Election.
“We are seeing interest rates in the United States and the UK rising steadily and the same thing is going to happen in Australia as a result of increasing inflation which is now over 5% per annum,” Mr Palmer said.
“Only the United Australia Party can save Australian homes. We have outlined our policy of capping all home loan interest rates at 3% for the next five years to protect home ownership and our way of life.
“This policy is the only way most Australians will remain in control of their home equity and wealth.
“If interest rates follow increasing inflation rates, how are Australians expected to survive?
“The Reserve Bank has indicated today that rates will continue to rise,” Mr Palmer said
“The United Australia Party is the last sentry at the gate. The coming election is our last chance to protect our right to wealth before it is wiped away.
“You can never trust the Liberals, Labor or The Greens again. At this election, all Australians must vote for the United Australia Party to protect their homes and their families,” Mr Palmer said.
