Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

There was a comment from the Liberal-National party during that very good supplementary question that this was waffle. It is not waffle to outline measures taken under the leadership of a very fine Treasurer, Mr Swan, and to outline initiatives to protect Australians who are being affected by the global economic crisis. It is very important that the leadership and the decisive action as illustrated by the Treasurer, Mr Swan, in a range of areas should be indicated to the Australian community. As I was saying, to assist borrowers in distress—and I would have thought that the Liberal-National party would be interested in this—the options include a postponement of up to 12 months, an extension of the period of the contract, a reduction in the amount of each payment due under the contract, interest-only breaks on loan repayments and fee waivers. (Time expired)