Cutting government expenditure by about $30 billion would be the most effective and direct way to cut inflation rather than raising interest rates and inflicting mortgage stress on home-owners, writes Patrick J. Byrne.The Reserve Bank of Australia (RBA) has raised interest rates for the 12th time since May 2002. The early rises were a rebound after interest rates were slashed to record low levels worldwide, following the bursting of the dot.com bubble in 2000.However, the last five or six rate r…
