Interest Rates

The following information was made available from the Reserve Bank of Australia- website.

From:  Highest Interest Rates Per Annum (under the Government?)

Note:  Highest interest rates @ 21.39% under a Liberal and declined steadily under Labor.  Fairly static since under Howard but certainly significant reductions in interest rates were made during the Labor era.

Year            Interest Rate %            Government

1975            9.8                              Lab: Whitlam/Lib: Fraser

1976          10.27                            Lib:  Fraser

1977          10.95                            "

1978          10.63                            "

1979          10.54                            "

1980          13.83                            "

1981          16.69                            "

1982          21.39                            Lib:  -PM: Fraser (Treasurer: Howard

1983          15.26                            Lib:  Fraser/Labor: Hawke

1984          13.88                            Labor

1985          19.56                            "

1986          18.97                            "

1987          16.7                              "

1988          15.11                            "

1989          18.37                            "

1990          17.33                            "

1991          11.93                            Labor:  Keating

1992            7.45                            "

1993            5.88                            "

1994            7.95                            "

1995            8.37                            "

1996            7.57                            Labor:  Keating/Lib:  Howard

1997            6.05                            Lib:  Howard

1998            5.19                            "

1999            5.56                            "

2000            6.57                            "

2001            5.91                            "

2002            5.07                            "

2003            5.47                            "

2004            5.57                            "

2005            5.81                            "

2006            6.21                            "

IS THE INDEPENDENT COMMISSION AGAINST CORRUPTION (ICAC) A NSW STATE LABOR GOVERNMENT PUPPET?

The question most asked is how ICAC ignored the  Macquarie Bank played in the Liverpool City Council's questionable Oasis development.  More so since the then NSW Labor (ALP) Premier Bob Carr pulled the plug on politics and shortly afterwards accepted a $500,000 a year consultancy job both the Macquarie Bank.

Well may you ask did the Independent Commission Against Corruption (ICAC) turn a blind eye to questionable practices regarding the Oasis development.  It must be noted that the Commissioner of ICAC at the time was Irene Moss wife of Macquarie Bank's executive director Bill Moss.

In fact one can't help feeling that the Oasis inquiry was tainted and there was possible political interference from Senior Labor Ministers.  How else could this inquiry have been swept under the carpet?

LETTERS

QANTAS OFFER

I have just received an offer from Airline Partners for my Qantas shares.  My answer is no.  My reasons are numerous but the overriding factor in my decision is the fact that the buyout attempt is funded by debt.

All booms must bust.  We are at the top of a worldwide boom.  In the event of a downturn in the world economy Qantas, unable to service its debt, will cease to exist.  Another Ansett?

John Scott, Dora Creek

ATTENTION GRABBER

Generally, for anybody trying to contact an MP frustration seems to be the inevitable outcome.  On some occasions an acknowledgement may be sent to say the member will look into the matter.

This is soon followed by the "matter" being fed into a shredder - end of story.  The idea seems to be that a "donation" enclosed with you letter will produce a more favourable response.

This might explain why Sydney has become the Developers' Paradise.

Saul Moss, Malabar Heights