The Australian has the story to ruin household’s day:
Peter Costello, chairman of the nation’s $130 billion Future Fund, has urged the Reserve Bank to lift interest rates now to avoid households’ taking on more debt, which he says is contributing to “massive imbalances” in the economy.
The nation’s longest-serving treasurer also expressed concern that the Turnbull government was balancing the budget mainly by lifting taxes. “The worry is we do it on the revenue side rather than spending side,” he said, suggesting lifting taxes would lead only to calls for more spending.
