Interest rate hikes pushing businesses ‘to the wall’

Sky News host Peta Credlin says new research has revealed higher interest rates are forcing more businesses “to the wall”.

Data compiled by the International Monetary Fund shows that after factoring in inflation, house prices across Australia have climbed by more than ten per cent since 2019 – among the highest in the world.

At the same time, data from CreditorWatch shows the number of external administrators appointed to Australian businesses has hit a record high – 22 per cent higher than 2023.

“We already know a lack of housing availability is driving up property prices and that rising interest rates are squeezing family budgets,” Ms Credlin said.

“But new research shows higher interest rates are also forcing more businesses to the wall.

“Almost 24 per cent of those businesses are in the construction sector – the very businesses we need to help us solve the housing crisis.”

Видео Interest rate hikes pushing businesses ‘to the wall’ канала Sky News Australia