David Batt (Hinkler, Liberal National Party) | Link to this | Hansard source

My question is to the Minister for Housing. The major four banks in Australia are all reporting declines in home loan applications of between 12 per cent and 20 per cent since Labor's budget of broken promises. Will the minister finally admit Labor's toxic taxes have tanked the housing market?

Clare O'Neil (Hotham, Australian Labor Party, Minister for Housing) | Link to this | Hansard source

I thank the member for his question. I'm asked about the impact of the landmark housing tax reforms that our government has instituted, reforms that, for the first time, mean that first home buyers are standing on a level playing field with investors. Why have we taken this big step? Because we see that home ownership is the most important aspiration in the lives of most Australians, and our government is standing up and delivering that opportunity for more Australians.

I'm asked about the impact of these tax reforms. Let me tell the parliament what they are. These tax changes will reverse 10 years of declining home ownership rates around our country. I understand that those opposite are the 'last man standing' in our country who cannot see that we have a broken housing market. The only reason they are in that position is very simple: they are not spending enough time with their constituents. Our broken housing market is creating housing pain for millions of people around our country.

Milton Dick (Speaker) | Link to this | Hansard source

Order. The minister can take a breath, can pause. I will just let her take her seat so that I can hear from the Manager of Opposition Business. Manager, on a point of order?

Dan Tehan (Wannon, Liberal Party, Shadow Minister for Energy and Emissions Reduction) | Link to this | Hansard source

Speaker, it goes to relevance. I won't read out previous rulings, correct rulings, that you've made around this, but the opposition wasn't mentioned in the question.

Milton Dick (Speaker) | Link to this | Hansard source

Yes, the minister won't be able to talk about opposition policy because she wasn't asked about alternative approaches or other policies. She was asked a fairly specific question—sorry, she had some specific information. The question was: will the minister admit toxic taxes have tanked a market. That's the question she is going to have to find an answer for, which she can do, but she won't be able to do the very limited compare and contrast, as all Speakers have done before me. But she wasn't asked about alternative policies, so that won't be able to be the majority of her answer going forward.

Clare O'Neil (Hotham, Australian Labor Party, Minister for Housing) | Link to this | Hansard source

Sure. Thanks so much, Mr Speaker. I'm very happy to speak to the impact of these landmark housing tax reforms for the country, and the massive opportunities they are opening up for home ownership for so many more Australians.

I do want to remind the parliament that this is part of a much bigger and broader housing agenda that our government is implementing. Remember, 260,000 Australians are in their own homes with our government's backing, and I want every one of them to know that they've got housing today because a Labor government saw their aspiration and backed them in.

We have the five per cent deposit program helping Australians get to the auction up to eight years earlier, and now housing tax changes have put them on a level playing field with investors for the first time. That policy alone will take 75,000 households that today are stuck in a rent trap and give them the opportunity to own their own home. We're really proud to be making these big and important changes and we're going to keep fighting for first home ownership opportunities for every person in this country.

Milton Dick (Speaker) | Link to this | Hansard source

The member for Page is now warned.