Today's interest rate rise means millions of Australians will be punished to clean up Labor's inflation mess, driven by an overheated housing market the government refuses to fix, the Greens say.
"Renters and mortgage holders are getting smashed by the RBA, but it's Labor's failure on inflation that is responsible," Greens Economic Justice spokesperson Senator Nick McKim said.
"Today's interest rate rise is pure profit for the big banks, while mortgage holders and renters are being pushed deeper into pain."
"Labor has chosen to protect billions in tax handouts for property speculators instead of helping renters and first home buyers."
"Those settings drive up house prices, push up rents, and keep inflation high."
"As a result of today's rate rise, more of people's pay packets will now flow straight into bank profits and landlord pockets."
"This outcome was avoidable if Labor had acted to rein in investor tax breaks, including the capital gains tax discount.
"Australians should not be paying more every month because the government keeps siding with banks and big investors."
