The RBA is recklessly ignoring the mortgage stress of households that were lured into mortgages to prop up the bubble; Australia needs a foreclosure moratorium now!
The major political parties’ economic policies from the 1980s onwards smashed Australian manufacturing, which shrank from 20 per cent of GDP in 1980 to barely 5 per cent now.
Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
The Senate Economics References Committee inquiry into Australia’s manufacturing industry is accepting submissions from the public through to its 10 September closing date.
