If those opposite think that housing policy can be addressed in the absence of inflation and interest rates, I find that a remarkable departure from core economic logic. Why those opposite seem to respond so audibly and with great agitation to the logic I was pointing out before is that they were responsible for inflation getting out of control, beyond the three per cent margin, and they were responsible, as a consequence, for upward pressure on interest rates. Therefore, they are responsible for the extraordinary mortgage rate pressures which are currently being experienced by working families.

Prior to the election, we undertook to implement three core sets of housing policies. One is the first home saver accounts. The second relates to what we do for affordable rental accommodation. The third relates to—