South Australia's Premier says the Federal Government is not believed by voters when it blames the states for mortgage interest rate rises.
South Australia's Premier Mike Rann says the electorate will not accept the Federal Government's claim that the states are to blame for interest rate rises.
The Commonwealth is running an advertising campaign claiming that debt taken on by the states is putting upward pressure on rates.
Mr Rann says the public has stopped believing the Federal Government a long time ago.
"Apparently the new formula is that when interest rates go down that's John Howard's responsibility and when they go up it's the states," he said.
"The fact is is that states' borrowings are the lowest they've been for 50 years so this one won't wear. I mean it's a sign of desperation."
