Election 2007, Day 23: More interest rate fallout

This afternoon the Environment Minister Malcolm Turnbull faces up to his Labor counterpart Peter Garrett at the national press club.

It’s the fifth election debate since the campaign began. Yesterday Industrial Relations Minister Joe Hockey debated Labor IR spokeswoman Julia Gillard. Hockey used the occasion to announce new rights for employees – a right to unpaid leave for parents and grandparents. (link to Mike’s story)

Prime Minister John Howard has been out selling his now more complex message on the economy following yesterday’s decision by the Reserve Bank to raise interest rates. No longer exactly “go for growth”, he’s still arguing the Coalition is best to manage the economy under threat from rising inflation.

Treasurer Peter Costello claimed this morning that Labor leader Kevin Rudd is lying when he says interest rates reached 22% when John Howard was treasurer, and has produced a graph to prove it.

Meanwhile Opposition treasury spokesman Wayne Swan has been asked several times this morning whether interest rates would continue to rise if Labor wins government. Eventually he answered: “That is entirely a matter for the Reserve Bank.”

For our comprehensive look at the Labor and Coalition policies that will affect your business see today’s top story The 2007 federal election – a guide for SMEs.