THE big four banks have reportedly made a combined profit of $17 billion since interest rates started to rise, making a mockery of their insistence that the rises need to be passed on to mortgage holders to "cover our costs". Hard-earned wages of borrowers are simply transferred to wealthy corporations.
This wouldn't be so bad if banks used this largesse to open branches, hire more staff or raise wages so the money cycled back through the communities it was originally gouged from. Alternatively, they could be taxed on super profits and the money used to provide relief for home and small business owners doing it tough. However, none of these things will happen.
The banks will keep their profits and redistribute it to shareholders, and CEOs will get fat bonuses. At a recent Senate inquiry into regional bank closures, senators from across the political spectrum backed a public bank solution like the original Commonwealth Bank. A people's bank that would provide full banking services through post offices and force the big banks to truly compete. Now that's an example of politicians working for the people they represent.
John Arnold, Anna Bay
Too comfortable with deep debt
INTEREST rates rose again, but this will not control or manage inflation. The underlying problem is that the governments have conditioned the population, especially young adults, to go deep into debt even if they can't manage it.
As a result, we see $1 million loans for houses on very low deposits, and loans for furnishings and cars too. Don't forget the HECS debt. It's all expected to be normal
A bit over a week ago, the RBA spoke of wages growth that has no productivity to sustain such growth without inflationary effects, and the government seeks to have wages growth without support for manufacturing industries that would create the productivity to sustain wages without inflation. We have started the spiral of higher wages feeding higher inflation, resulting in higher interest rates, with rising poverty and unaffordable housing the byproduct.
Many first home owners are under mortgage stress that will only increase while the real estate industry continues to celebrate rising house prices, which indicate not prosperity but an economy out of control. More people will become homeless and councils and governments will bang on about affordable housing, but there is none for a growing population of working poor and homeless people. A new direction is needed now.
Milton Caine, Birmingham Gardens
Cash must reach those who need it
WITH the referendum fast approaching regarding the Voice, and while I'm a simplistic person and no Rhodes scholar, I think there are a number of issues that need to be addressed by the government to enable all Australians to fully understand the current yearly funding allocation to assist our Aboriginal communities in all aspects of everyday life.
Can someone within government give the Australian public a detailed breakdown of the vast sums allocated to Aboriginal communities? For example, does this total amount include all government costs to manage funding distribution? If so, please provide a breakdown of costs.
Also, what other internal/external costs are included and how is the allocation of money distributed to communities? We also shouldn't forget some Aboriginal communities also receive royalties from major raw materials companies (which is a separate issue at this time).
I am in no way suggesting funding is not warranted, but at the end of the day is the allocated funding reaching those in need or is the majority of funding tied up in governmental bureaucracy, starving those requiring the allocation of funding? If this is the problem, then the proposed "yes" vote will only result in expanding the "fat cats" within government at the expense of those requiring assistance.
Can the government give all Australians a complete expenditure breakdown of funds in the overall management of money allocated to our Aboriginal communities and the net sum received by them after management costs etc are deducted?
This will ensure all Australians can receive some informative data before the proposed referendum. Forget about minorities; I hope one day all Australians can stand as one.
Peter Mullins, Rankin Park
Factual debate key to progress
I FIND it ironic that the Institute of Public Affairs (IPA)'s John Storey criticises pro-Voice advocates for using "linguistic tricks designed to silence certain opinions" ('Tricks' used to silence debate on the Voice', Opinion 6/6).
Storey then compares New Zealand's Treaty of Waitangi with our Voice proposal. His comparison fails because NZ's treaty is already embedded in its constitution and our referendum is only about a Voice. Storey's gripe is with the Waitangi Tribunal, a kind of 'Voice' created by Parliament, which was granted the legal power to rule on matters of Treaty after centuries of neglect of its terms.
Our Voice, if we vote "yes", would be constitutionally limited to making representations or advice, and so not vulnerable to having its role redefined by a court.
Meanwhile, it is the "no" case on our Voice that is using 'linguistic tricks' and spreading misinformation, a term Storey finds offensive. For instance, a recent targeted social media post claimed that some meeting notes from as far back as 2016 documenting suggestions made in a working group's brainstorming session were a secret, binding agenda the government was concealing.
Fortunately for us, this claim was fact-checked by AAP, which concluded the post was unambiguously misleading. Meanwhile, anyone tempted to listen to the IPA should look up its 75-point wishlist as supplied to Tony Abbott. It contains such gems as "eliminate laws that require radio and television broadcasters to be 'balanced'". I think it stands condemned by its own words.
Michael Gormly, Islington
Religion teaches us to help poor
IN reply to Neville Aubrey ("Getting to the heart of spirituality" Letters, 30/5), religious people are happy to join with atheists and all people of good will in a search for an adequate spirituality along the lines suggested in his letter.
However, the fact is that Christians who worship can also be found across the world joining with people of all faiths and with atheists in movements to end the evils of war, violence (especially violence against women), injustice of all kinds, poverty, hunger, persecution, discrimination, racism and xenophobia. Worship generates and involves action. Local examples: Samaritans, Vinnies, Uniting Care, Baptist Care, Salvation Army. Jesus reveals a God who stands with the poor. His followers act in accordance with that teaching as their means and opportunities permit.
George Garnsey, Morpeth
SHORT TAKES
I RECENTLY had cause to use the newly reinstated GP Access facility at the Mater hospital ('Mater GP after-hours clinic reopens doors', Newcastle Herald 29/5). From the reception desk to the actual treatment, it was a seamless experience for something that didn't warrant visiting the emergency department and using their valuable time. Congratulations to all the politicians who brought this service back. I am also full of disbelief that anyone ever contemplated shutting it in the first place.
Robert Green, Georgetown
After watching Q&A I have little doubt our lord mayor is angling for a step up to state or federal government. She took every opportunity to promote the Labor party and denigrate the Coalition, even if it was relevant to the question or not. And as for the Supercars question, debunked figures were quoted by her as she appeared to scramble for answers when asked about the effect on climate and councils claim to be a green city. After Newcastle having a predominantly Labor council for the past nine years she has conveniently laid the blame for inaction regarding the homeless on the state and federal Coalition.
Denise Lindus Trummel, Newcastle
AS a nation, we appear to have short memories. We have reporters who would not remember what risks our armed forces have taken to give them the lifestyle they enjoy. Our SAS troops, given tasks so risky most of us could not imagine, are asked to be angels. These men are trained to be the military's best of the best, and when they perform duties that are not seen to be normal against an enemy that kills and tortures their own, we bring them down. If the reporters are too young to know what is required to be awarded a Victoria Cross they should revisit what Ben Roberts-Smith did against an army that had no respect for life. Shame on the media for their actions.
John Houston, Mayfield
ALAN Hamilton (Short Takes, 7/6), says he's "not worthy to stand in Ben Roberts-Smith's shadow". Worthy or not, I'm afraid Roberts-Smith's actions have cast a shadow over all of us.
Michael Hinchey, New Lambton
IN response to Bruce Bander (Short Takes, 6/6), I am not sure where Animal Farm fits into the Voice debate, but you are entitled to your opinion. I believe that marginalised First Nations People have come up with a good suggestion. The Voice can improve their participation and our listening, and there is much room for improvement on both counts. It will not mean that other voices are not heard; we live in a democracy.
Sue Boele, Hamilton South
IF inequality is an issue regarding the Voice to Parliament, why aren't those concerned asking for paid lobbyists to be banned from accessing Parliament? There is currently too much influence by the rich.
Lloyd Davies, Stockton
THE time for passenger trains to travel between Wyong to Tuggerah is three minutes on weekdays and three to four minutes on weekends. Why does it need to be faster?
