Banks' failure to pass on cuts shows lack of fear for Coalition

Illustration: Cathy WilcoxCredit:

With all the talk about the Reserve Bank lowering interest rates to further record lows to help stimulate growth, one could be under the impression it is the RBA that is responsible for managing the economy ("Reserve will keep cuts coming", June 5).

Such is not the case - the RBA merely directs interest rate policy which should be in line with government fiscal policy currently in contractionary and a contrary "budget surplus" mode.

If the government doesn't change tack fiscally, we will be heading for recession if we are not technically there already, and it will be a reflection on their so-called economic acumen.

So get cracking, Scott Morrison and Josh Frydenberg. Dispense with the pursuit of a surplus and start spending - on infrastructure or anything of a beneficial nature. - Stewart Copper, Maroubra

With interest rates reaching a new low, growing unemployment, growing inequality and a record deficit, it is clear that managing our economy is not one of the Coalition's strongest suits.

Illustration: John ShakespeareCredit:

The LNP's election-fuelled claim that they would be better economic managers than Labor is a joke. Tax cuts for the top end of town have never worked. Increasing wages for the lower-paid majority will. - Bruce Spence, Balmain

No interest-rate cuts by some banks ("Economy at risk if banks fall short on rate cut", June 5)? Treasurer Frydenberg should stop moaning. It is just the capitalist system doing what the Coalition wants it to do: increase shareholder wealth.

There will be plenty more to bemoan between now and the next election. Think worldwide recession, electric vehicles not generating petrol tax, income-tax revenue declining due to increasing wild weather events and the death of the Great Barrier Reef tourism industry. The list goes on and on and on.

Welcome to government in the real world, Treasurer. We live in interesting times. - Doug Keech, Killara

Frydenberg's attack on the ANZ Bank for not passing on interest-rate cuts is another example of Coalition ministers blaming others for the downturn in the Australian economy. - Trevor Wilson , Chifley ACT

After the re-election of the Morrison government bank stock prices soared, apparently because investors believed that the LNP would be much less likely than the ALP to punish banks for their egregious actions exposed in the banking royal commission.

The banks failure to pass on the full Reserve Bank interest-rate cut suggest they confidently share that belief. - Steve Bright, North Avoca

I was surprised to read that "investors cheered" when the RBA lowered interest rates. As a self-funded retiree investor, I did no cheering, as I copped a 16 per cent drop in income. Only borrowers did any cheering. - Ian Shepherd, Elizabeth Bay

Crikey, with the record low rate, borrowers today should not only be smiling, but laughing all the way to the bank - literally. Not so lucky was I, in 1991, when I took out a loan, then paying a whopping 17 per cent interest. - Edward Loong, Milsons Point

Annual saving of $906 on a mortgage of $500,000 amounts to $17 per week - hardly a consumption-propelling phenomenon. - Mustafa Erem, Terrigal

National anthem is the least of the NRL's problems

Your correspondent calls for civil debate on the State of Origin (Letters, June 5).

We're currently in the middle of another NRL season dominated by court cases and sex tapes, yet it is Indigenous players protesting our inappropriate, charmless and lyrically offensive national anthem that he finds disrespectful?

Personally, I don't find sexual violence and religious bigotry at all civil. But I'm happy to debate the anthem. Get rid of it, like the behaviour of some players from virtually all our codes. It's a national embarrassment. - Phil Bradshaw, Naremburn

Given the treatment our First Nations people have endured since colonisation, their not singing the national anthem is "disrespectful"? Please.

And since when has the anthem been sung before non-international matches anyway? Another borrowed Americanism? - Bob Guy, Cootamundra

There's an old saying, Christopher Parris, that "if you can't beat them, join them".

Over the hill here in Boorowa, I had the pleasure of witnessing the annual state gladiatorial clash, unfazed by the refusal of one or two players to give voice to the anthem.

They may not have been much chop as singers, anyway. Their forte is running around at great speed, falling down and grappling with other superbly fit individuals.

We should be glad that we live in a society where people have the freedom to choose whether they join in certain activities or not.

I take pleasure in viewing the encounter and partake of red wine, with a book at hand in case the game gets boring. The best of both worlds. - Derrick Mason, Boorowa

There is no question that our national anthem is very pedestrian and ignores Indigenous Australians.

It isn't even very lyrical and pales in comparison with those of France, New Zealand, and South African, my three favourites.

I suggest I am Australian written by Bruce Woodley of The Seekers and Dobey Newton of the Bushwackers and made popular by The Seekers in the late 1980s.

It's a wonderful song, really lifts up one's spirits, and captures the essence of this great country. - Michael Clarey, Pyrmont

As for the national anthem, our Commonwealth is indeed "young" though I have always taken the word to mean "young in spirit".

But sadly, this ancient land which has abounded "in nature's gifts" is losing too many of them, not least because it does not have "boundless lands" to share. - John Bunyan, Campbelltown

Why don't they just put a few extra players on the field for the anthem and then send on to play only those who stood to attention and sang? - Peter Pitt, Potts Point

Premier needs lesson in equality

No, Premier; a selective high school for the south-west of Sydney is not the answer ("South-west Sydney to get new school", June 5). It is simply anti-educational, it will be community toxic, socially divisive and deny equity.

A cohesive, productive, effective educational system cannot be developed with selectivity as its foundation. A well resourced, efficiently managed comprehensive local high school can offer everything a school based on selectivity can offer and much more.

We ignore equity at our peril. Frankly, I expected better. - Gus Plater, Saratoga

The government's answer to the decline of educational standards is to offer more of the same. More selective schools, the decline of the local comprehensive school, segregation based on religious, academic and other criteria and a society based on exclusion. - Vanessa Tennent, Oatley

Wrong, wrong, wrong. It is much better to invest in local comprehensive high schools to cater for all learners. - Frances Durand, St Ives

Growing pains

Parking at Cherrybrook station was full before 7.45am on the first day of Metro operation and has been full on several days since (Letters, June 5).

Signs advised going to Hills Showground station, two stops further away from Epping/Chatswood, while advice on other occasions has suggested stops even further away. Several stations, dubbed "destination stations" have no parking provided. - Heather Finch, Castle Hill

The controversy surrounding the installation of the new light rail reminds me of the old saying "You can't make an omelette without cracking eggs".

Sydney is being retrofitted with transport infrastructure that should never have been been removed in the first place. Our extensive tramway system was egregiously dismantled in the 1950s and we have been paying the price with congestion, exhaust fumes and traffic gridlock ever since.

The concern is that all this negative publicity and whingeing will dissuade governments from future light rail projects, when they are so obviously needed in the inner-city region. One only has to visit European cities to see how well light rail functions in dense urban environments. - Tony Bernard, Manly

Bridging the gap

There is no dispute with the claim that operations are done very well at no cost in public hospitals ("Surgeons college backs sanctions for excessive fees", June 5).

The problem for all those who would prefer to use them, is the huge waiting lists. The public are being forced into private medical treatment because access to the public system is just not a timely, available option.

As a self-funded retiree, although belonging to a very expensive health fund, our biggest single outlay is covering the medical gap fee. Sadly, for many of our ilk this equates to having to choose between electricity or health. The drop in interest rates is not helpful either. - Elizabeth Kroon, Randwick

First lady of fashion

I was impressed, yet again, by Melania Trump's elegance, poise, dignity and sheer beauty during the state visit to Britain ("Melania Trump's outfit choices are a 'how not to' in fashion diplomacy", June 5). I wonder whether she would be generous enough to give some training in such matters to her "mutton-dressed-up-as-mutton" critics among the "elites" of Hollywood. - Peter Smith, Double Bay

Adani's high price

Now, after the election, Adani has announced that its Carmichael mine might create as few as 800 jobs ("Union calls on Adani to guarantee local jobs", June 5). It is surprising they need so many people to operate a "fully automated" mine. There are not many jobs driving driverless trucks. Now we know that our politicians will risk the destruction of precious water resources, the extinction of rare birds, the shifting of $3 billion to offshore tax havens and potential damage to the Great Barrier Reef, all for a few hundred jobs. - George Rosier, Carlingford

Fear not Telstra contractors ("Telstra to cut 10,000 contractor jobs", June 5). The Coalition government has fought tirelessly for potentially 800 on-going jobs at the proposed Adani mine so imagine how hard they will work to keep an existing 10,000. - Graeme Finn, St Peters

Terror in Darwin

I have watched the events in Darwin unfold and the Prime Minister has said that they are not terror related ("Alleged Darwin massed shooter was 'looking for one person' ", June 5). A man randomly shoots people and it's not an act of terror. Why?- Natalie Gould, Newtown

Freedom under attack

Under his control, Peter Dutton politicising the AFP into a force to intimidate the free press is not something that should surprise anyone ("Australian Federal Police raid ABC headquarters at Sydney's Ultimo", June 5).

Knowingly or not, this is the Australia most of us voted for. - Shayne Chester, Potts Point

I am sure I'm not the only one bemused by the timing of the raids on an ACT News Corp journalist and the Ultimo ABC offices – so soon after a federal election. Total coincidence of course. - Barry Ffrench, Cronulla

Breakfast tension

It comes as no surprise that ABC's breakfast audience share has dropped ("No poll lift as ABC Sydney crashes to 13-year ratings low", June 5).

The powers-that-be should be asking whether the shared mic works for this particular audience. It's annoying when one presenter is speaking and the other interrupts. As this happens often, the listener can be waiting for that interruption, and even if it doesn't occur, you can become very tense while swallowing your cornflakes. - Wendy Crew, Lane Cove North

Right to vote denied

I, too, would be most interested to know how and how often postal ballot papers were not delivered on time (Letters, June 5). My disabled husband's arrived at the correct address, in mint condition, on May 31. When I phoned the AEC on May 17 about the non-arrival I was advised to just let the polling officials know when I went to vote and they would record it in the "excuses book".

Makes a total mockery of the AEC website's commitment to ensure "all eligible Australians are able to enrol and make their vote count". - Ellen McEwen, Croydon

Senate candidate

If only Mike Cannon-Brookes had run as a Senate candidate ("Minerals Council is 'nuts' on solar, wind: Atlassian's Mike Cannon-Brookes", June 5). -Peter Mahoney, Oatley

Setting the standard

Win or lose, Ashleigh Barty is a credit to Australian sport ("Barty's 'most feared' left in French Open finals", June 5).

It's a pity some of her male counterparts don't exhibit her good manners, her fighting spirit and her 'never say die' attitude. Congratulations Ashleigh. - Denis Suttling, Newport Beach

Caps and politicians

Your correspondent, Brian Jones, is correct (Letters, June 5). As my mother always said, presentation is so important, and I'm pretty sure even if baseball caps had been available, you would never have caught the likes of the Duke of Wellington or Oliver Cromwell running around in baseball caps, unlike a couple of national leaders I could mention.

It's a bit like men of a certain age growing pony tails - they think it's cool, but it's not. - Nick Franklin, Katoomba

Mother Nature's tricks

Ever since the state government decree starting water restrictions in Sydney, it has poured with rain. - Tristan Parry, Cremorne

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