LNP Fishing policy

[finga]

I have to admit it would be better for Bob's mob (or any of them really) to simply tell the banks to toe the line in regards to interest rates instead of 'suggesting' the reserve bank to lower theirs.
Things are just ridiculous in the way banks just do what they want to.

[Camhawk88]

I agree with you Frogfuzz. Katter the mad hatter has some loopy ideas but he has done the best for his constituents over many years than any other member I know of on either side of the political fence. Lets face it the Aus party will not bring in enough votes to get into government however if they hold the balance of power then their influence (particularly leveling out the SE bias) will be for the good of the state. Even if they did hold the balance of power they still wont get their loopy policies through such as the intrest rates policy. Marks warnings of a hung parliment based on the fear we will get the greens holding us to ransom is rubbish- the Aus party will do more for rec fishing than LNP ever will. Campbell is a bit of a worry as far as Im concerned from a North QLD perspective, Id like to see KAtter in there keeping the bastard honest.

[PADDLES]

hi finga, we have to remember that banks are NOT a community service any more, they are a publicly listed business with shareholders that expect profit. as such the government should not interfere with them.

that being said though, i reckon that the australian government should make any bank wishing to trade in australia offer a basic home mortgage package with a continuously variable rate linked directly to the reserve bank rate. it must only be available to owner occupiers who are australian citizens and only have one title deed to their name, it must also be limited to the median value of a basic dwelling, if you need more money to buy a flasher house in a nicer area then it's obviously at an uncontrolled rate. all other banking services should be on the free market, but a basic home loan to get (and keep) australian citizens in their own property should be implemented.

[finga]

hi finga, we have to remember that banks are NOT a community service any more, they are a publicly listed business with shareholders that expect profit. as such the government should not interfere with them.

That was another lie wasn't it.
De-regulation of the banking industry can only bring about cheaper loans (and other services banks do) due to competition....Who was it that said that??
They say it over and over again...deregulation will make things cheaper. CRAP!!!

[PADDLES]

you're not wrong there scotty, deregulation doesn't necessarilly make things cheaper.

banking post gfc saw the big banks to gobble up little banks and decrease competition which seemed to make the government a little worried but in reality they couldn't do a thing.

[PinHead]

hi finga, we have to remember that banks are NOT a community service any more, they are a publicly listed business with shareholders that expect profit. as such the government should not interfere with them.

that being said though, i reckon that the australian government should make any bank wishing to trade in australia offer a basic home mortgage package with a continuously variable rate linked directly to the reserve bank rate. it must only be available to owner occupiers who are australian citizens and only have one title deed to their name, it must also be limited to the median value of a basic dwelling, if you need more money to buy a flasher house in a nicer area then it's obviously at an uncontrolled rate. all other banking services should be on the free market, but a basic home loan to get (and keep) australian citizens in their own property should be implemented.

intersaeting thought but who will pay the shortfall? The taxpayers again?
Banks have to buy their money..if their purchase price is higher than the RBA rate what are they supposed to do?

[PinHead]

I agree with you Frogfuzz. Katter the mad hatter has some loopy ideas but he has done the best for his constituents over many years than any other member I know of on either side of the political fence. Lets face it the Aus party will not bring in enough votes to get into government however if they hold the balance of power then their influence (particularly leveling out the SE bias) will be for the good of the state. Even if they did hold the balance of power they still wont get their loopy policies through such as the intrest rates policy. Marks warnings of a hung parliment based on the fear we will get the greens holding us to ransom is rubbish- the Aus party will do more for rec fishing than LNP ever will. Campbell is a bit of a worry as far as Im concerned from a North QLD perspective, Id like to see KAtter in there keeping the bastard honest.

thye may unlock some areas..but how about mandated ethanol? That won't help rec fishing at all.

[Camhawk88]

As mentioned they wont get all of their policies through but will have a good mediating effect on whoever holds power. The mandatory ethanol issue has been brought up with Bob I believe and he is reconsidering it due to the impact on outboards. That was the last I heard anyway.

[tunaticer]

Bob Katters party is good for Aus politics I think. It will not gain a majority vote this time but it does give people a choice outside of the two majors and the green protest vote. If anything comes of the Aus party it will be to the loss of the green power in both houses. That has got to be the best thing since sliced bread and the best thing for this country.

[tunaticer]

i reckon that the australian government should make any bank wishing to trade in australia offer a basic home mortgage package with a continuously variable rate linked directly to the reserve bank rate.

I think this notion holds good credibility, but the banks will face a loss on each negative movement of the Reserves decision. You can bet your clusters they will create a new fee or three to compensate for this loss.

With bank repossessions hitting an all time high the last two months in Qld, I do not think it likely this form of reform will be adopted anytime soon. Still it would be worthwhile placing it to your local member as a policy concept as a bolster to the first home owners grant. I imagine it would be a good platform for winning voters.
Might help your preferred party gain power or keep power.

[finga]

With bank repossessions hitting an all time high the last two months in Qld,

And the councils are finding more and more people not paying their rates.
I think some council's are now selling up peoples properties if 3 years are owed instead of the usual 7 years.

[tunaticer]

And the councils are finding more and more people not paying their rates.
I think some council's are now selling up peoples properties if 3 years are owed instead of the usual 7 years.

Banks are taking possession of houses in the last two months for as little as $5000 in arrears, that's just over two months payments for a 250k loan roughly. Should the trip wire for a home loan be set to a fixed figure of $5000 or a % of the loan. If you took out a 500k loan that would be less than one repayment.

[finga]

Bloody hell those figures scare me Jack.
$5,000 a month for home repayments.
What sort of lifestyle would the average family have if combined income is around the $100,000 (which would be a really good combined income for many) and home repayments are $3-4,000 or more per month??

The cook and I are indeed very fortunate. We only need to pay around $1,000/month for our Brisbane place. It makes it really easy to get the house paid off quick as a flash.

[PADDLES]

i know what you're saying pinhead with regards to the spot price of money at any given time, and banks still need to cover their costs over and above the price they can purchase money. but surely the reserve bank could get their numbers a little better to reflect the current credit prices and then add a standard service charge on. the way things are at the moment, the reserve bank rate means absolutely nothing more than a dodgy indication of the reserve bank's confidence in the australian economy. it means absolutely nothing to the banks, the anz has even came out and said that they'll ignore the reserve bank rate.

[PinHead]

Paddles..the interest rates the RBA release are cash rates..for the money markets..not actually to be mortgage interest rates.

The banks have no obligation to follow these and I bet that if the RBA lowers it again the banks will not follow. They are having enough trouble buying money at the moment. None available in Europe at all.