| Rate Rise Pressure Mounts: NSW Families and Businesses Squeezed as Economic Strain Deepens |
NSW Liberal Leader, Kellie Sloane ** “This is another brutal blow for NSW families already at breaking
point—forced to choose between paying bills, buying essentials, and
keeping up with mortgage repayments.”
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Rate Rise Pressure Mounts: NSW Families and Businesses Squeezed as Economic Strain Deepens
18 March 2026
(See translation in Arabic section)
Sydney-Middle East Times Int'l: NSW families and small businesses have been dealt another devastating blow following the Reserve Bank’s decision to lift the cash rate by a further 25 basis points to 4.10%, the second consecutive rate rise this year, and the 5th rise since the Minns Labor Government came to power.
This interest rate rise did not come out of nowhere and is the direct consequence of Labor’s inflation crisis that continues to tighten its grip on household budgets across the state.
The figures tell a damning story of Chris Minns and Labor’s economic failure in NSW:
• NSW inflation is at 3.9%, higher than the national rate of 3.8%
• Electricity costs are up 30.8% and utilities are up 25.7%
• State taxes up 30% under the Minns Labor Government
• 6,200 NSW businesses collapsing into insolvency in 2025
• The slowest economic growth in the nation at 0.9%
NSW Liberal Leader, Kellie Sloane, said yesterday’s second consecutive rate rise for 2026 will be devastating for families already stretched to breaking point.
“This is another brutal announcement for NSW families who are already at breaking point, making the impossible choices between paying bills, buying essentials, and making mortgage repayments” Ms Sloane said.
“NSW families were promised life would be easier under Labor, but the reality is that they costs are up, our state’s economy is slowest economic growth in the nation, and now a second straight rate rise this year.”
Shadow Treasurer Scott Farlow said Labor had no one to blame but itself for the economic pain now being felt by families and businesses across NSW.
“This rate rise is a consequence of bad economic decisions, and NSW families are paying the price,” Mr Farlow said.
“A family with a $500,000 mortgage now must find $1000 this year to cover this rate rise, let alone the previous rise.”
“"The sad reality is that NSW families are being punished for Labor’s economic mismanagement, and with global instability now added to the mix, things are sadly only set to get worse. This is Labor’s economic legacy and NSW families deserve better.”
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