Government doubles penalties for knife crimes across the state Relief for mortgage holders as RBA holds fire on interest rates

TROY DODDS MAKAYLA MUSCAT

The NSW Government has introduced new legislation to Parliament that will double the maximum penalty available for certain knife crimes.

The Bill will transfer the offences of having custody of a knife in a public place or school and wielding a knife in a public place or a school from the Summary Offences Act to the Crimes Act

Under the new legislation, the maximum term of imprisonment for these offences will increase from two years to four years.

The maximum fine for possession of a knife will also increase from $2,200 to $4,400, and for wielding a knife to $11,000.

According to NSW Attorney General Michael Daley, the amendment will send a strong message about the gravity of knife-related crime.

“The Government is acting to address understandable community concern given the high-profile tragic events involving knives that we have seen in NSW over the last couple of years,” he said.

According to the NSW Government, key criminal justice diversion mechanisms for young people or first-time minor offenders will be retained under the proposed reforms. This means a penalty infringement notice can still be issued to an adult for a first offence and children will still be eligible to receive a caution or referral to youth justice conferencing where appropriate.

“We believe we have struck the right balance with these reforms, sending an important message to people engaging in criminal behaviour of this kind but also not being overly punitive in its application,” Daley said.

Shadow Minister for Police, Paul Toole, welcomed the stronger penalties but said he hoped they’d be enforced when cases land in court.

“I strongly support legislation that is going to keep the public safe and measures that maintain and improve public safety,” he said.

“I hope that the judicial system will apply the appropriate penalties to those who break the law rather than just giving them a slap on the wrist.”

It was a sentiment echoed by Radio 2GB broadcaster Ray Hadley, who said: “This waffle from the Chris Minns government is an unadulterated load of BS… until we talk about mandatory minimums, these sentencing announcements are just BS.”

Member for Penrith, Karen McKeowen said increasing the penalties will protect the community and reflect the seriousness of knife-related crime.

“While knife-related crime may not be a major issue here in Penrith at this time, there have been a number of recent crimes involving knives across the state,” she said.

“It is critical that our residents can travel around the state freely and our government is committed to ensuring that our residents are protected from knife-related crime.”

Struggling mortgage holders have been given a reprieve for at least a month after the Reserve Bank of Australia (RBA) resisted the temptation of increasing interest rates again this week.

The pause will give variable borrowers time to catch up on the 12 hikes the Reserve Bank Board has unleashed in the last 15 months.

But the hikes may not yet be over, with RBA Governor Philip Lowe declaring: “Further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend upon how the economy and inflation evolve”.

RateCity.com.au Research Director Sally Tindall said the last thing borrowers should assume is that we’ve seen the back of the hikes.

“The RBA has handed households a muchneeded breather to catch up on the 12 rate rises the Board has already fired off – if you’ve got a mortgage, use this time wisely,” she said.

“The reality is, the vast majority of variable borrowers have only started paying for their 10th hike. Their monthly repayments are likely to rise two more times, even if the cash rate doesn’t move a muscle, which, in itself, is an unlikely scenario.

“With at least one more rate hike expected, anyone with a mortgage should pick up the phone to their bank and ask point blank for a rate cut.

“If you get one, make sure you put that money straight back into your mortgage until you need it. Right now, having a buffer in your home loan is exactly what the doctor ordered.”

Lowe said the RBA was holding rates to see how the economy performed in the coming months.

“The decision to hold interest rates steady this month provides the Board with more time to assess the state of the economy and the economic outlook and associated risks,” he said.

“In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in household spending, and the forecasts for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.”

Shadow Treasurer Angus Taylor urged the Federal Government to do its bit in easing pressure on Australians.

“The Reserve Bank has made it clear that inflation is still too high and further tightening of interest rates may be necessary,” Taylor said.

“Solving this inflation crisis cannot be left to the Reserve Bank. The government has many policy levers it can pull to lessen the load on mortgage holders but instead it has its foot on the accelerator while the Reserve Bank has its foot on the brake.”