Sarah Henderson (Victoria, Liberal Party) Share this | Hansard source

So I just say to the Greens I'm very disappointed that the Greens would not support this amendment, because this does provide more certainty. It does provide greater assurance. It does build confidence in the HELP scheme when young Australians know that they can sign up and that they do not face the risk of escalating student debt year in and year out.

I am really concerned. I spoke last night on the second reading about my concerns about the student debt discount bill, because there are big winners and losers here. I won't repeat what I said last night in my speech on the second reading, other than to say I am going to support the bill, but I would like to see the bill improved. I think this does improve the bill. I think perhaps members of the government would privately consider that as well. I am asking the crossbench to support this amendment. This respects the fact that young Australians have had it really tough over the last three years. The cost-of-living crisis has hit young Australians really hard. Australians are struggling to put food on the table. Australians are struggling to pay the rent. And then they are faced with these massive increases in student debt, which, of course, the government has now alleviated through the student debt discount. But that is not the way to run a loan scheme. What's going to happen? Is the government going to go to the next election with another student discount costing Australians and the 24 million people who do not benefit from this another $16 billion dollars? That is not the way to run a loan scheme.

A much more responsible way to run it is to cap indexation and then for the government of the day to take its responsibility to manage inflation seriously. It imposes greater discipline on any government to say, 'We take our responsibility to manage inflation very seriously, because, if we don't, we will pay the price.' At the moment, what's happening under the HELP scheme with indexation uncapped is that Australian students and debtors are paying the price and wearing the loan scheme.

To the Greens: please reconsider your position. To the crossbench: please support this amendment. This is commonsense policy. This is sensible policy. This is acting in the best interests of young Australians seeking to enter tertiary education. This is acting in the best interests of all Australians. That's why I'm asking that this amendment be supported.