Test the assumptions before tightening your belt

By Richard Denniss
Updated April 24 2018 - 8:26pm, first published April 8 2016 - 2:03pm

This week the Parliamentary Budget Office released analysis that suggests mortgage interest rates will soon rise to 8.5 per cent, an increase that would cost a household with a $500,000 mortgage around $15,000 per year. But no one noticed and no one panicked. We were too busy blaming university students for making governments 'live beyond their means'.

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