Australia’s Fraser warns on household debt – Sydney Morning Herald
Key quotes from Treasury secretary John Fraser’s speech at Senate estimates hearing in Canberra on Wednesday are crossing the wires via Sydney Morning Herald-
- Australian household sector’s assets are around five times greater than its debts, holding over $2 trillion in debt while maintaining $12 trillion in assets.
- In the next hundred years interest rates will go up, people should be wise to prepare themselves for that, it’s something to watch, but it’s not a reason to be comfortable.
- If Australia is to remain competitive, we have to be mindful of what is happening elsewhere. Trump administration’s proposed tax cuts “run the risk of sucking in a lot of capital flows that might have gone elsewhere.