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

I thank the senator for her supplementary question. Let us look in a fair dinkum sense and an honest sense at what this government continues to contribute to the capacity for young families to buy their own homes and pay off their mortgages. As Senator Abetz has already indicated, the reason that so many people can afford their own homes today—and in fact, as I have indicated, 50 per cent of people who are paying off their own homes are paying in advance—is that so many people have a job. Real wages have increased by 20 per cent rather than going down 1.3 per cent under Labor. They went down over the same period of time under Labor, and now we have a 20 per cent increase in wages that effectively equates to a 20 per cent increase in the capacity for people to buy a home and pay for it.

The central aspect of the question was: what about interest rates? I can tell you, Mr President: this government is quite happy with 6.5 per cent rather than 17 per cent. (Time expired)