- 29 October 2016
Hello Morrison... Are You There?
The following article shows why our Treasury is a prisoner of the Treasury department. Morrison returned from overseas calling on the RBA to not lower rates. Morrison should have come back pointing out the RBA was reaching its charter of maintaining full employment. He should have come back calling on the RBA to match overseas low rates, He should have called upon the banks to immediately pass on previous RBA rate drops that they have stolen.
Australia's monthly jobs data is a mess and Scott Morrison needs to do something about it.
APRA released figures confirming that the banks were lying saying that the cost of funds was not tied to the RBA rate. In fact, APRA (Metcalf) stated that over the last seven years the bank's cost of funds has come down more than the RBA rate, not less.
Previous Treasurers forced the banks to pass on cuts. Unfortunately, since then we have had Swann, Hockey and now Morrisson - who do you think would make a good Treasurer?
Click here to read why Scott Morrison should look at the US scheme that trumps Australia on affordable housing.
Regards,
Kevin Young Club Founder of Property Club
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