The decision by the Reserve Bank today to lift official interest rates by 0.25 of one per cent to 4.75% will lead to more financial pain for households and small businesses.  This is the seventh increase in interest rates in just over a year. 

It is likely the banks will move quickly to lift their interest rates in response to the RBA’s move.  This is expected to increase the standard variable home mortgage rate to 7.65%, the small business residential secured overdraft rate to 9.70%...

The illegal arrival of two more boats carrying more than 140 people is a reminder of the Gillard Government’s own home grown border protection and immigration policy failures, Shadow Minister for Productivity and Population & Shadow Minister for Immigration and Citizenship, Scott Morrison and Shadow Minister for Justice, Customs and Border Protection, Michael Keenan.

“While the Prime Minister continues her charade over her never never solution East Timor, the boats continue to arr...

Today’s 0.25 per cent interest rate rise by the Reserve Bank of Australia (RBA) is another blow to Australians paying off their homes and shows the folly of Labor’s inflationary stimulus spending, said Senator Marise Payne, Shadow Minister for Housing.

“Australian homeowners are already paying record amounts of their disposable incomes on servicing mortgages and this rate rise means more hip-pocket pain,” Senator Payne said.

“A homeowner paying an average mortgage of $301,...