Tuesday, June 5, 2012
The decision of the Reserve Bank to cut interest rates by 25 basis points is confirmation that the economic storm clouds are gathering says Ross Vasta MP, Federal Member for Bonner.
“While home owners will welcome a cut in interest rates, they also understand the cut is a result of the worsening world economy and a soft domestic economy”, said Mr Vasta.
“For this cut to help household budgets, it must be passed on in full. The banks routinely ignore Wayne Swan and home owners have consistently missed out on receiving the full benefit of past rate cuts.
“In recent months, householders have felt the shock of falling share markets, declining house prices and uncertainty due to the carbon tax.
“This is the worst possible time to introduce the world’s biggest carbon tax.
“The carbon tax is a bad tax based on a lie. It will increase prices, cost jobs and no nothing for the environment.
Mr Vasta said he wanted to assure the people of Bonner that the Coalition has a plan to strengthen the economy and provide people in Bonner with the hope, reward and opportunity they need to plan for the future with confidence.
“My message to the people of Bonner is that there is a better way. The Coalition has a plan to provide effective, stable and competent government and improve the economic circumstances of the people and small businesses of Bonner.
“We will scrap the carbon tax, cut the waste, reduce the debt and restore Australia’s finances. Scrapping the carbon tax will restore confidence, help families deal with cost of living pressures and help get our economy growing again.
“We will deliver a personal tax cut without a carbon tax, funded by savings in government expenditure.
“We will also cut red tape and reduce the regulatory burden on business and community groups by $1 billion per year.
Mr Vasta said in difficult economic times, the Coalition offered an experienced alternative to the division and dysfunction in the Gillard Government.
“The Coalition has an experienced team who have managed an economy during difficult times. Sixteen members of the Coalition front bench were Ministers in the Howard government.
“The Coalition has run a strong economy before – and we can do it again. And we will start by scrapping the world biggest carbon tax,” said Mr Vasta.