Inquiry into possible links between household debt, demand for
imported goods and Australia's current account deficit
Terms of Reference
The Senate has referred the following matter to the above Committee for inquiry and report by
6 October 2005 :
Possible links between household debt, demand for imported goods and Australia 's current account deficit, with particular reference to:
(a) current levels of household debt and whether these are historically high (as a proportion of household income or otherwise);
(b) the factors, including the lending policies of banks and other financial institutions, that contribute to household debt levels;
(c) the extent to which demand for imported goods contributes to household debt levels;
(d) the extent to which demand for imported goods by Australian households contributes to the current account deficit;
(e) risks for households and the economy of high household debt levels;
(f) whether there is a case for addressing the lending policies of banks and other credit providers and if so, what practical options are available;
(g) whether there are other measures that might be taken in place of possible restrictions on lending practices which would be as effective;
(h) whether any Commonwealth social and economic policy settings should be changed as a result of matters identified above;
(i) whether there is a need for any other form of regulatory intervention in relation to this issue; and
(j) any related matters.
Written submissions are invited and should be sent to:
The Secretary
Senate Economics References Committee
Suite SG.64
Parliament House
Canberra ACT 2600
The closing date for submissions is Tuesday, 1 March 2005.
The Committee requests that where possible, submissions should also be provided by e-mail to economics.sen@aph.gov.au preferably as MS Word 97 or RTF format documents. Notes to assist in preparing submissions are available from the website https://www.aph.gov.au/senate/committee/wit_sub/index.htm or the Secretariat (ph: 02 6277 3540, fax: 02 6277 5719).
Once the Committee accepts your submission, it becomes a confidential committee document and is protected by Parliamentary Privilege. You must not release your submission without the Committee’s permission. If you do, it is not protected by Parliamentary Privilege. At some stage during the inquiry, the Committee normally makes submissions public. Please indicate if you want your submission to be kept confidential.
Inquiries from hearing and speech impaired people should be directed to the Parliament House TTY number (02) 6277 7799. Adobe also provides tools for the blind and visually impaired to access PDF documents. These tools are available at: http://access.adobe.com/. If you require any special arrangements in order to enable you to participate in a committee inquiry, please contact the committee secretary.
For further information, contact:
Committee Secretary
Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600
Australia