John Hewson lashes Coalition’s irresponsible lending laws
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Former Liberal leader John Hewson has slammed the Morrison Government’s proposed scrapping of responsible lending laws claiming it could create a “debt monster” that would be detrimental to the economy over the longer-term:
“I think the basic premise is wrong,” Dr Hewson told The New Daily.
“Lending might stimulate some short-term spending, but in the end it has to be serviced – you are stoking a debt monster”…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.