Brett Raguse (Forde, Australian Labor Party) Share this | Hansard source

In the time given to me in the next few minutes, I will give my introductory views on this bill. I certainly rise to speak in favour of the First Home Saver Accounts Bill 2008 and the associated bills that form that set. In my electorate of Forde there is no one issue that is more important than housing—housing availability, housing affordability. It is interesting to listen to the opposition today and their discussions about what alternative legislation would bring to this place, but the reality is that these particular bills are not just about housing to get a person into a house; they are also about the overall economic conditions under which we are placed.

The interesting thing for us is that when we talk about south-east Queensland, where the seat of Forde is, it is an area that is experiencing an enormous rate of growth. The pressures there are more specific to the economic concerns we have across the country simply because of the demand. It is, as the opposition have said, a supply and demand issue. But as our Prime Minister has said, silver bullet solutions just do not exist. This is a case of making a raft of options available, and certainly our first home saver accounts scheme is about bringing young people into the culture of saving. We have heard it many times this morning, certainly from the opposition. Interestingly enough, the opposition essentially agree with this bill. They agree so much that they had to talk about their alternatives. The reality is this is the bill before the House; it is important that this bill gets passage through this House because it is part of some relief for those young people who are attempting to buy their first homes. When I say ‘young people’ I certainly include other people who are classified under that arrangement, but it is about people having the opportunity to buy their first home.

The seat of Forde is an area that is in such demand that people who once had affordable housing in some of the areas are now not able to even find rental accommodation. The pressure is such that the demand for rental accommodation is outstripping supply. We have areas that have had huge rental increases—up to 70 per cent increases—simply because the supply of housing is not there. Mr Speaker, I obviously commend this bill because of its ability to provide—

Debate interrupted.

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