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Interest rate rise 'difficult'

30 Jul, 2007 10:06 PM
FEDERAL Families Minister Mal Brough has conceded another interest rate rise would be "difficult" for mums and dads with mortgages.

But Mr Brough, who is also responsible for community services and indigenous affairs, said there was "no doubt" interest rates would continue to be lower under a Coalition Government than if the Labor party was in office.

The Howard Government frontbencher was in Cleveland on Saturday to open a seniors' health expo at the Cleveland RSL and support Liberal Member for Bowman Andrew Laming's re-election campaign.

Economists have predicted that the Reserve Bank will raise interest rates in coming weeks but Mr Brough said such a rise was not warranted as underlying inflation was on target.

He told the Bayside Bulletin housing affordability in the Redlands was "still pretty good".

"Today that (average) family with two children will pay no net tax on $50,800 worth of income by the time they get their family tax benefits back."

Labor candidate for Bowman Jason Young said: "Andrew Laming and the Howard Government over the past two-and-a-half years have failed to keep interest rates low and we're facing another rise."

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FEDERAL Families Minister Mal Brough at the opening of new Redlands RSL library and museum on Saturday.
FEDERAL Families Minister Mal Brough at the opening of new Redlands RSL library and museum on Saturday.

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