John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Hansard source

I have seen those remarks by Debbie Bridgman—is it? Let me say to her, and let me say to families all around Australia, that last week’s interest rate rise was not something that anybody in the community welcomed. However, it was an unavoidably sensible and responsible response by the Reserve Bank of Australia to a number of factors. As I said at the time, and I repeat it here, the action taken by the Reserve Bank at the time it was taken could well have reduced the likelihood of more severe action being taken in the future.

As my response to Neil Mitchell on the eve of the last election indicated, at no stage in the last election campaign did I give guarantees that interest rates would never rise. What I said—and as sure as I stand here at the dispatch box, I know it to be true—was that interest rates under the coalition will always be lower than they are under a Labor government. I would say to Debbie Bridgman that, if you are really interested in long-term interest rate sustainability and affordability, please do not vote Labor.

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