Katter welcomes PM’s comments on currency intervention

13 November 2013: KAP Leader and Federal Member for Kennedy Bob Katter has welcomed comments by the Prime Minister in Parliament encouraging the Reserve Bank to intervene to drive down the AUD following Mr Katter’s final Question for 2013.

“God bless the Prime Minister, this is very gratifying news indeed,” said Mr Katter following yesterday’s Question Time exchange, in which he used the 30th anniversary of the floating of the AUD to draw attention to the impacts of a high dollar and interests rates on Australia’s collapsing industries.

“We have continuously and continually called for urgent intervention and action to the artificially-high Australia dollar that is ‘murdering’ this nation’s industry and families.

“So it was very gratifying indeed for the Prime Minister to tell Parliament yesterday that the Reserve Bank was able to intervene to bring the dollar down to a level that enables our collapsing industries to survive.

“But most important message, and it’s a Christmas message, is that you can make a difference if you are prepared to make a stand.

“Everyday Australians have spoken to me continually about their concerns with the skyrocketing dollar and its disastrous impact on our tourism, manufacturing, agricultural industries.

“Let us not forget that just months ago the dollar was $1.20 and now it is as low as 90c.”

In light of the Holden’s announcement that it would stop making cars in Australia; as well as the closure of all copper processing in northern Australia; the collapse of WA wheat and Victorian dairying industries and the North’s sugar and cattle, Mr Katter asked: “Would the Prime Minister acknowledge that if Mr Keating and Mr Costello had continued with a policy of a free-floating dollar at 49c and 52c respectively, then all our industries would have grossed 50 per cent more income and be prospering, not collapsing? Would the Prime Minister not agree that this disastrous policy is continuing with RBA interest rate settings of 2.5 per cent when the OECD average is only 0.2 per cent?”