Thursday, July 06, 2006

Aussies sinking deeper into money crisis

Does NSW Labor really care about the plight of workers in the state? Not really. Otherwise they would have done something about housing costs along time ago...

"Australians are sinking deeper into financial crisis, with petrol prices soaring and higher interest rates making it more difficult for consumers to pay off their debts.

And financial counselling services across Australia are finding it difficult to cope with the growing number of people needing their help.

Mike Young, a financial counsellor with Lifeline Western Sydney, said debt crisis was not unique to low income earners.

But the effect of this month's interest rate rise on Australians was yet to be seen, he added. Other factors were also hurting household budgets, Mr Young said. "We are seeing the start of the effect of the new industrial relations laws," he said. And recent changes to debt recovery laws were not helping, Mr Young said."

Aussies sinking deeper into money crisis

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