Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. Last week, the Treasurer said, 'The starting point for a first home buyer is to get a good job that pays good money.' Can the Treasurer provide examples of what these good jobs would be that would make average housing in Sydney affordable?

Mr Fitzgibbon interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Hunter will desist. The Treasurer has the call.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

It is hugely important that we all do what we can to increase the supply of housing, particularly in Sydney. It is hugely important. I might report to the House that across Australia construction has commenced on 198,000 new dwellings since the beginning of 2014, which is up 18 per cent on the last year of Labor. In one year there are an extra 198,000 new dwellings that have been commenced in 2014. Nearly 50,000—

Mr Tony Burke (Watson, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

Madam Speaker, I rise on a point of order. The Treasurer has been asked to nominate which jobs he was referring to last week when he referred to—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member will resume his seat. The Treasurer has the call.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

In New South Wales alone, 50,000 new houses were built last year. If you are going to borrow money from the bank, the bank insists that you have a steady income and I think we all know that. It is a perfectly reasonable assumption from the banks. We would hope that the banks do not lend to people who are unable to repay that money. That is perfectly reasonable as well. So the best thing we can do to help with housing affordability is to create more jobs—exactly what was reflected in the unemployment numbers that came out last week where the unemployment rate fell to six per cent, which is something that the Labor Party never saw. They actually never saw the unemployment rate fall, because when they came to government the unemployment rate had a four in front of it. When they left government it had a six in front of it and hundreds of thousands of Australians lost their jobs.

As a result of what we have been doing—repairing the economy, repairing the budget, creating confidence out there amongst small business people—you are seeing real job growth. You are seeing real jobs being created and better jobs being created, so people have an opportunity to buy their first home. It is tough in Sydney. It is expensive. It is hard for people to get into their first home in Sydney—as I have said on many occasions—as it is in Melbourne and as it is particularly in some parts of Brisbane. In other parts of the country, in some cases, house prices have even come down. So the best thing we can do for all Australians is to strengthen the Australian economy and give all Australians the chance to get a good job.