Dr Sam Wylie

So there's two things that are driving inflation.

Is demand growing faster than supply?

Is there a lot of money in circulation?

And both of those things in COVID-19 went up a lot.

There was a lot of stimulus of the economy and the Reserve Bank, the central bank, pumped a lot of money into the economy.

So

So I know that's a very long-winded answer, and I'm sorry if I've banged on about that for ages, but I think it helps to sort of lay those things out.

Yeah, that's true.

And there's not really anything you can do about that except take the payments that come out automatically from your HECS.

So as your income goes up, you pay more and more of your student debt down to a limit of 10%, 10%.

Once you make, I think it's 130K, then 10% of your salary comes out below about 45K.

because I don't have any student debt, I don't have the figures.

Actually, you'll be probably unhappy to know that I'm one of the lucky generation, like our new Prime Minister, Anthony Albanese, I'm one of the lucky generation who didn't have to pay for their education.

So apologies for that.

And I don't have any student debt.

My kids have got plenty of student debt.

But it's, yeah, it's a student debt's like a loan from the federal government.

The interest rate on the loan is the inflation rate, essentially, because the amount of debt goes up with inflation.

And they take the money out of your wages and salaries, you know, through the tax system.

And yeah, inflation is 5.1% over the last year.