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Interest rates remain on hold as Labor eyes tax haven changes

Simon Beaumont
Article image for Interest rates remain on hold as Labor eyes tax haven changes

Federal Labor’s spokesperson for Treasury and Charities Andrew Leigh has flagged significant changes to tax policies, especially those benefitting multi-national companies.

“Tax havens have become a cancer on the global tax system,” he told Liam Bartlett on 6PR Mornings.

His comments came as the Reserve Bank of Australia decided to keep interest rates on hold at a record low 0.1 per cent on Tuesday.

At the bank’s first meeting of the year, the board decided to stop further bond buying after its final purchases on February 10 but noted this did not mean a rate rise was imminent.

The cash rate has been on hold at its current level since November 2020.

Tap PLAY below to hear more of their chat.

Simon Beaumont
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