Were you waiting with baited breath as to see what the Treasurers’ reforms would bring? What do you think – will they increase competition in the industry and bring about the so called ‘fifth pillar’? Or was it simply, as quoted in the Sydney Morning Herald on the 14th of December a series of ‘feather duster’ reforms. Was it that good (!).
The proposed waiving of mortgage exit fees is another thing and hopefully will increase the amount of interest in other possibilities for the consumer. But, you do have to question longer term ‘costs’ of implementing this – so stay tuned and before you think this is a great option – have a look at the longer term implications of a switch.
But the biggest question is still what will happen with the economy next year. Australia overall is looking positive with unemployment still very low – with the flip side being inflation the price we pay for this environment. But retail is still sluggish – so where are the clues? We can’t ignore the implications of overseas, particularly the US and Europe – first Greece, then Ireland – Spain or Portugal next. And of course, our number one obsession – property is up and down, rather than a tale of two cities at the moment it’s literally a tale of two days.
Interested to know your comments – what’s your feeling and how is your business?
Enjoy your week.