Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

The Reserve Bank governor has indicated in his statements that what is happening with interest rates is a return to a more normal level. Of course, the level of interest rates under us still remains substantially below the level of interest rates that prevailed under the Labor Party. The average rate of interest for mortgages under the Labor Party was some 12.75 per cent—