Crispin Hull

Fixed-rate housing loans would be the next foreign-currency-loans debacle, according to a spokesman for the National Australia Bank.

He was speaking after being told of a Canberra woman had been hit with an $11,000 penalty by the Advance Bank for paying out a fixed-interest mortgage 2{ years early. She must pay it before she can sell her house.

Alanna Maclean wants to sell her house in Downer. When she bought it in July 1990 she took out a fixed-interest loan at 15.95 per cent for five years. On seeking to sell and pay out the loan she was told the bank would suffer a loss of $10,896 and there would be a $100 document preparation fee. A management fee was waived.
Continue reading “1993/1993_01_january_bank”

Parts of Canberra have unemployment figures far higher than the national figure, putting the lie to Canberra’s image of being aloof from the recession.

They also put the lie to Canberra has a relatively homogeneous.

The suburb-by-suburb figures are based on Department of Education, Employment and Training surveys from July and August. They are therefore behind the national figures. Then Canberra’s overall unemployment was 8.1 per cent and the national figure was 10.6.
Continue reading “1993_01_january_addjobs”

ACT Electricity and Water employees were guaranteed payment of the 2 per cent public-service enterprise-bargaining pay increase, the chief executive, Mike Sargeant said yesterday.

He was responding to assertions made by several ACTEW workers that ACTEW was attempting to avoid paying the rise. The workers, in a letter to üThe Canberra Times, had supported the Minister for Urban Services, Terry Connolly, who had said the ACTEW had to find the money with efficiencies.

Earlier, Dr Sargeant had been reported as saying to Mr Connolly that the ACTEW would have to increase charges by 1 per cent or shed 70 staff to fund the enterprise agreement made with ACT Government employees.
Continue reading “1993_01_january_actew”

The division used to be the station-planning branch of the Department of Transport and Communications. With the abolition of the Australian Broadcasting tribunal and the creation of the authority, the station-planning branch was moved to the authority.

It has about 50 staff, 20 engineers/technical and the rest clerical/policy.

Staff sent a letter to the chairman, Brian Johns, yesterday protesting about the move. Staff have also written to politicians seeking help, including to Independent Michael Moore. They say the move is unnecessary. They could function as well from Canberra. Indeed, they argue that the Sydney staff could equally as well move to Canberra and have the authority based here.

As the old ABT functions shrink the 127 Sydney staff would have to shrink by 60 anyway, according to government requirements.
Continue reading “1993_01_january_abamove”

Money from the Federal Better Cities program intended to fix up grotty inner suburbs has been siphoned off for greenfields development in the ACT, according to the Watson Community Association.

The association was delivering its response to the ACT Government’s preliminary assessment for residential development of North Watson.

The association said the ACT’s application for about $15 million in Federal money had been crafted in a way to meet the Better Cities guidelines, but not its intention. Costly sewerage improvements nominally for urban renewal in North Canberra would in fact be mainly used by greenfields development in east and south Gungahlin and by new residential development in North Watson.
Continue reading “1993_02_february_better”

The National Party should oppose the privatisation of the Snowy Mountains Engineering Corporatisation if it would “”cause harsh economic and social trauma to the Cooma community”, according to the party’s candidate for Eden-Monaro, Tom Barry.

Mr Barry was speaking at the opening of his campaign office in Queanbeyan yesterday.

The joint Liberal and National Party Fightback program says on p273: “”The following organisations have been targeted for sale in our first year. the operations of the Snowy Mountains Engineering Corporation.”
Continue reading “1993_02_february_barry”

“”And needless to say the XXX Bank can kiss my business goodbye in 1995.”

This is voice of many consumers over the past month angry at being hit with huge, unexpected fees when wanting to sell their homes.

The history of it shows how the best laid plans and intentions go astray.

When Stephen Martin, MP, brought down his report into banking in November, 1991, one of a dozen or so recommendations attracted little limelight.
Continue reading “1993_02_february_banks”

The ABC would be happy to vacate its present site and go elsewhere if it got enough money for a new studio, the ABC’s manager for Canberra, Philip Koch, said yesterday.

In seeking expressions of interest for the redevelopment of its present site, the ABC was only following advice from ACT planning officials in its attempt to seek more suitable premises for its future ACT role.

“”The ABC does not want to be a developer,” Mr Koch said. “It just wants premises to suit its present and future functions.”
Continue reading “1993_02_february_abc”

Australia’s current account deficit of $1.6 billion in November, 1992, announced yesterday put an end to hopes for a fall in interest rates.

The figure was issued by the Australian Bureau of Statistics. The Acting Treasurer, Bob Collins, said: “”In light of this, and economic circumstances more generally, the Government has no plans to change current monetary-policy settings.”

The Opposition said Australia was drifting alarmingly.
Continue reading “1993_01_january_trade”

The chief executive of the ACT TAB and its former chairman have attacked the proposal by

the Minister for Sport, Wayne Berry, to convert the TAB from corporation to a statutory

authority.

The former chairman, Jim Colquhoun, said yesterday that the move was ideological. As a

corporation the TAB ws running better than it had ever done. It was the only TAB in Australia

to increase turnover in the face of a casino opening. Because he had opposed the change, his

appointment as chairman had not been renewed.
Continue reading “1993_01_january_tabauth”