Phillip Thompson (Herbert, Liberal National Party, Shadow Minister for Defence Industry) Share this | Hansard source

When young Australians put on the uniform and commit to defending this nation, we make them a promise: that their sacrifice will be honoured. The Defence Home Ownership Assistance Scheme is one of the ways we keep that promise, by helping ADF members into homes. But, right now, that promise is being broken. I have been informed by those in the industry that the closed three-lender DHOAS panel charges veterans up to 80 basis points above market, costing around $130,000 over the life of a typical loan. In many cases, the panel rate swallows the subsidy entirely, and some personnel are locked out altogether because they don't fit any of the three lenders' credit policies. I put this to the parliament back in 2022, yet nothing has changed. The royal commission identified housing stability as critical to Defence Force retention. This government is now locking this broken panel in for another seven years. First home buyers choose from 33 lenders under the Commonwealth scheme. Our veterans get three. We need to do right by those who serve.

This budget is a fraud on the Australian people. Labor promised Australians cheaper power bills; instead, families are paying hundreds more. They promised cost-of-living relief; instead, Australians are skipping meals, draining savings and falling behind on mortgages. They promised economic responsibility, yet small businesses are collapsing at record rates under the crushing weight of Labor's inflation, energy costs and red tape. Across this country, family businesses that survived floods, fire and COVID are now shutting their doors because of this government. Tradies, cafes, retailers and manufacturers are being driven into the ground while Labor pats itself on the back in Canberra. And while Australians struggle, Labor is cutting defence capability and failing our veterans.

Veteran families of our war heroes are fighting for basic support while ministers and their spouses rack up taxpayer funded travel bills without hesitation. Australians are sick of the double standard. This government is selling off defence land and strategic assets while our region becomes more unstable and dangerous. At the exact time Australia should be strengthening its national security, Labor is weakening it. And what are the government's priorities? There always seems to be money available to bring back and support these ISIS members, but everyday Australians are being told there is nothing for them. The Prime Minister should be ashamed. This government is eroding the Australian way of life, punishing aspiration, abandoning small business, weakening defence and threatening hardworking Australians.

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