Opened the debate
Hume argued that the interest rate increase would cost an average mortgage holder with a $600,000 loan an additional $100 per month, or $1,200 annually. Hume attributed the rise in inflation and subsequent rate hikes to excessive public spending by the Labor government, which she claimed was fuelling demand in the economy. Hume criticised the Treasurer for deflecting blame onto consumers for holiday spending rather than accepting responsibility for fiscal policy. Hume further asserted that the government was running persistent budget deficits, pushing national debt towards $1.2 trillion and burdening future generations.