Nigel Scullion (NT, Country Liberal Party, Minister for Community Services) Share this | Hansard source

I thank the senator for her question and recognise her longstanding interest in housing afffordability not only in the Illawarra but also in the wider New South Wales constituency. The greatest assistance in housing affordability that this government could ever give to Australians is by providing a fantastic and sustainable economy. As all in this place should know—although I understand there are some on the other side who are in denial—this government has delivered just that. Unemployment is now at 4.5 per cent, a 32-year low. People who are considering buying their own homes should also consider the 10.9 per cent unemployment that was left for this government to deal with. There are over two million new jobs and wages have increased by 19.8 per cent. We have a strong and stable economy which enables more people to be in a position to buy their own home.

Under the Commonwealth-State Housing Agreement this government has delivered $4.75 billion and provides an additional $2.2 billion in rental assistance to assist social security recipients and families on low incomes. The family tax benefit part A, increasing the income tax threshold, as well as the extension to supplements to families with three children are fantastic initiatives which have assisted people at the coalface. And of course there is the major income tax change which means that 80 per cent of Australians now pay less than 30c in the dollar—an absolutely significant incentive that will allow people to save money to buy their own homes.

Interestingly, despite this fantastic economy, there is no doubt—and all of us who are interested in this area would recognise—that people are having some trouble affording their own homes. It is interesting that the senator alluded to alternative tax policies, because I think that has a great deal to do with people’s capacity to buy their own home. The state and territory governments collect significant amounts in stamp duty and in various other land taxes. Much more could be done in this area in order to improve housing affordability.