What we learned today, Tuesday 2 August
And with that, we are going to put this blog to bed. Before we go, let’s recap the big stories from today:
- The Reserve Bank announced it will lift the cash rate from 1.35% to 1.85%.
- The treasurer, Jim Chalmers, said the rate rise meant it was ‘another difficult day for Australian homeowners with a mortgage’.
- The Coalition party room agreed to a recommendation by shadow climate change minister, Ted O’Brien, to oppose the government’s climate bill.
- David Pocock urged a ‘new pragmatism’ needed to be found to combat climate change in his first speech to parliament.
- The employment minister, Tony Burke, said the government will establish a house select committee to examine the Workforce Australia employment services scheme.
- Aged care reforms became the first bill to pass the new parliament, but the minister, Anika Wells, said there is more work to do.
- The federal court ruled that WA premier Mark McGowan and mining billionaire Clive Palmer has defamed each other in their long-running legal stoush.
- At least 95 deaths from Covid-19 were reported across the nation as the TGA extended the shelf-life of anti-virals to fight coronavirus.
Thank you so much for spending part of your day with us – we love it. Amy will be back in the morning so we will see you then!
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Mortgage-holders under pressure from rising interest rates
“We paid $590,000 for the house, but the government has paid for 25% of that so we’ve ended up with a mortgage of $420,000,” Louise Hindes said.
Their loan repayments have already gone up by more than $100 a fortnight. When they first moved in they paid $720, now they are paying $840.
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And now it is eggs ...
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