Rate rise pain won’t be felt by the top 1%

Rate rise pain won’t be felt by the top 1% | Australian Greens Skip to main content Search Get Involved Join Donate Our plan Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action Policy principles & aims Our team Federal MPs State/territory MPs Officeholders Media releases Take action Volunteer Donate Issues & campaigns Events Greens Shop Leave a bequest Our movement About the Greens Become a member Jobs Green Magazine All news Get Involved Join Donate Search Our plan Toggle Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action Policy principles & aims Our team Toggle Federal MPs State/territory MPs Officeholders Media releases Take action Toggle Volunteer Donate Issues & campaigns Events Greens Shop Leave a bequest Our movement Toggle About the Greens Become a member Jobs Green Magazine All news Rate rise pain won’t be felt by the top 1% 2026-05-05 Today’s interest rate rise will further entrench economic inequality and deliver more money into the pockets of the 1 per cent at the expense of renters and mortgage holders, the Greens say.

Comments attributable to Greens Economic Justice Spokesperson Senator Nick McKim: “This is another kick in the teeth for mortgage holders and renters who are already being smashed by rising costs.” “This will punish people who are suffering the most and are not responsible in any way for inflation, while the super rich who have cash in the bank will sit back and watch their wealth grow.” “The top 1% will be popping the champagne corks at the extra money they’ve just been handed by the Reserve Bank and a Labor Government sitting on its hands.” “Raising interest rates will not stop the war in the Persian Gulf and it will not bring fuel prices down.

But it will send many Australian households to the wall.” “There is plenty that Labor could do to put downward pressure on inflation, like making price gouging illegal and making the top 1% and big corporations pay their fair share of tax.” Lines attributable to Greens spokesperson for Finance, Housing and Homelessness Senator Barbara Pocock: “This is not the news homeowners needed to hear today.

Millions of Australians are already in mortgage stress, already hurting in a cost of living crisis. “Another rate hike is simply punishment for homeowners and more profit for the banks already raking it in on home loans. We need to tax the 1%, not hard working people.

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