John Symond fears fallout from overly tough federal budget

John Symond fears fallout from overly tough federal budget
John Symond fears fallout from overly tough federal budget

Aussie Home Loans executive chairman John Symond fears an overly tough budget could "knock the wind out of the sails" of consumer confidence.

"We have seen consumer confidence only very slowly improve.

"We don't want a kick in the guts with a budget that is too tough,"

"It could slow the economy down," he told Ross Greenwood on 2GB MoneyNews.

John Symond says he foresees more of the same when it comes to interest rates.

"I am not convinced there was a bias either way," he said on the RBA thinking.

"There are mixed signals in the economy and in the global economy."

"There may be stable rates for months to come," he suggested.

His comments on consumer confidence followed the weekly ANZ-Roy Morgan consumer confidence pulse which was down around 8% over the past two weeks.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Rba Rate Decision Budget

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?