Cory Bernardi (SA, Liberal Party, Shadow Parliamentary Secretary for Disabilities, Carers and the Voluntary Sector) Share this | Hansard source

The coalition will not be supporting the Greens amendment on this issue. While I recognise the very well-intentioned reason for it, we do not support increased regulation that might see a decrease in the uptake of these important first home saver accounts. I also make the point that people choose to save in many ways; and if they choose to save for and purchase an investment property, it adds to the availability of rental stock in the market and provides access to rental accommodation. That is very important and much needed in Australia today. If they are prepared to put that means of saving forward for themselves, they should also be able to avail themselves of a savings mechanism that is tax effective so that they can purchase a home for themselves as well as supplying a rental property for other Australians that are in need.