Rudd 'tough as marshmallow' on rates

Kevin Rudd is about as “tough as marshmallow” when it comes to forcing banks to lower home loan, credit card and personal loan rates, Family First senator Steve Fielding has claimed.

According to the Australian Associated Press, the politician argued that some banks held back on cutting home loans and other products because they had no fear of being reprimanded.

“Tough times need tough action, but when it comes to the banks the Rudd Government is about as tough as marshmallow and ordinary Australians are paying for it,” he claimed.

He charged the premier to “go out and bat” for ordinary Aussies who are struggling with home loan repayments and other costs.

Fielding’s sledging of Rudd comes less than a week after the prime minister insisted he was going to come down on lenders who aren’t offering cheap credit cards.

In an interview with Fairfax Radio, he said he was worried about the range of interest rates offered by credit card firms.ADNFCR-1761-ID-18868151-ADNFCR