Sharan Burrow: Interest rate rise will hit working families hard

In a public address at the University of Melbourne 2 August 2006, ACTU President Sharan Burrow provides new ACTU analysis of the key pressures on working families as a result of the IR laws and the Federal Governments economic policy.

Today's (2 August 2006) interest rate rise will hit working families hard says the ACTU. Commenting on the Reserve Bank decision to lift interest rates 0.25%, Burrow said:

"Australians are working harder not to get ahead, but just to keep what they have got.

"Working families are already under enormous pressure from the Governments new IR laws that have made it easier for businesses to sack staff and to reduce employees wages and conditions.

"At the same time, families are being slugged with big rises in the cost of housing, petrol, food, and other basic household items.

"Everyone has to pay more for housing, petrol and food but the Howard Government keeps giving the majority of its tax cuts to high income earners," said Ms Burrow.