Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer to the Prime Minister’s statement yesterday that the monthly mortgage payment on the average mortgage of $220,000 is $1,430. Prime Minister, is it the case that, if the average borrower in Australia today were paying a top interest rate of 21.39 per cent that prevailed under Treasurer John Howard, they would face monthly mortgage payments of $3,922—more than twice what they are paying today?

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

I think what the member for Lilley is saying, and I agree with him, is that, if you were paying higher interest rates now, you would be a lot worse off—that is true. The reality is that you are not paying higher interest rates now. That is why the community is so much better off.

Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

Mr Swan interjecting

David Hawker (Speaker) Share this | Link to this | Hansard source

Order! The member for Lilley has asked his question.

Wayne Swan (Lilley, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

Mr Swan interjecting

David Hawker (Speaker) Share this | Link to this | Hansard source

The member for Lilley is warned!