Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

He is smirking about it too—even better. There have been nine interest rate hikes in a row. That is hardly an example of keeping interest rates low. Of course, it is not just interest rates on housing loans; it is also credit card interest rates. So many Australians today depend on the use of their credit card because they are under significant economic pressure. They are paying more for child care, more for fruit and vegetables, more for health care and more for petrol, which is putting greater and greater pressure on Australians through higher interest rates and their credit card use. Of course, we have had so-called Work Choices, which has cut the wages and conditions of workers, particularly in industries such as hospitality and retail.