Clive Palmer’s centrepiece campaign pledge to cap homeowners’ interest rates for five years has been dismissed by economists as “radical”, “crazy” and “utterly irresponsible” even though it will probably appeal to some gullible voters.
According to the United Australia party’s website, the mining billionaire’s “economic plan for freedom and prosperity” pledges to set a maximum 3% interest rate for all home loans to head off a looming mass default as lending rates start to rise.
