Dorinda Cox (WA, Australian Labor Party) Share this | Hansard source

It's not about oversight; it's about control. It is about the lever they are trying to pull to pull down our housing agenda by stealth. The truth is that these investment mandates are administrative tools, not political playthings. Housing Australia needs stability to keep investors and builders on board. Constant political interference would spook the market and absolutely slow construction. Even the Senate's own scrutiny committees have recognised that these instruments must remain non-disallowable when financial certainty and investor confidence are at stake. If Senator Bragg's bill passes, that stability absolutely goes out the window.

To those who claim that Labor's five per cent deposits are driving up prices, Treasury has been very clear that the impact is very modest, at about half of one per cent over six years. The biggest driver of housing costs has always been supply, and that is exactly why the majority of the $43 billion in our plan is focused on building more homes, not just helping people to buy them. We are restoring the Commonwealth's role as an active partner in housing, not a passive observer. We are delivering more homes, better rental security and a fairer shot at ownership, That's what our government is doing by putting the shoulder to the wheel while those opposite are standing in the way and shouting slogans.