As Labor approaches the second anniversary of its election win, Treasurer Wayne Swan is talking about climate change as economic experts forecast another interest rate rise before Christmas.

Official business investment data due out this week is expected to show more signs of an economic comeback.

Westpac chief economist Bill Evans said positive news on the economy since the Reserve Bank’s last meeting on Melbourne Cup day made another rate rise in December more likely.

“We think the economics of the current situation will justify another move and the data developments since this meeting support that view,” he said.

Treasurer Wayne Swan made no mention of interest rates in his weekly economic note, preferring to focus on the government’s emissions trading scheme (ETS).
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In the lead up to a NSW state election in the mid 80’s, the Liberal opposition at that time distributed a leaflet that claimed, ‘Once the Labor Government has mapped your area … the value of your property could be reduced by up to 50%’. With mapping and data now openly available to identify such environmental risks, the market will be free to dictate how property prices move. However the biggest impact on housing may be attributed to the decisions of both government and insurers.
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