Stress test home loans to avoid housing bubble
7th April 2015
Independent Senator for South Australia, Nick Xenophon, has called on the Australian Prudential Regulation Authority (APRA) to act to avoid a housing bust by requiring banks to further ‘stress test’ housing loans, particularly in the overheated Sydney and Melbourne markets.
“Currently APRA requires the banks to have aggregate stress testing of hous...
Rural debt: crisis, what crisis?
31st March 2015
Independent Senator for South Australia, Nick Xenophon, has criticised the major parties for rejecting the need of a special reserve bank fund to tackle the rural debt crisis.
A Senate Committee report released today rejected a Bill introduced by Senator Xenophon and co-sponsored by Victorian Senator John Madigan to establish a Rural Reconstruction...
Harper harpoons small business
31st March 2015
Independent Senator for South Australia, Nick Xenophon, has called the final report of the Harper Review of Competition Law “more than a missed opportunity, it betrays the very basis upon which the review was established”.
Senator Xenophon focused on two aspects of the report’s recommendations that he says, if implemented, will be a “body blo...
Senate Inquiry to look at wine industry
25th March 2015
The $25 million Australian tax-payer funded subsidy of New Zealand wineries via the WET (Wine Equalisation Tax) Rebate is almost certain to be forensically examined following the establishment of a Senate inquiry into the Australian wine sector today.
Independent Senator for South Australia, Nick Xenophon, co-sponsored the motion establishing the i...