Andrew Bragg (NSW, Liberal Party, Shadow Minister for Housing and Homelessness) Share this | Hansard source

I'm happy to withdraw, but I make the point that it's clear that the government had information back in July last year that was given to them by the Treasury that they knew was bad but they went ahead with the 1 October five per cent deposit scheme anyway. They knew that there were problems. It says here that there was factoring in of the supply response. That's all been redacted. They would have been told that there were problems and risks, but they went ahead anyway, without any warnings.

I feel for the people who've taken out these 95 per cent mortgages and who've now had to withstand two rate rises under this government because of its economic mismanagement and are looking at more. There were always going to be risks with a massive expansion like this, but you cannot have a country that calls itself a democracy where the Treasury department is doing modelling and risk analysis for the government and the government says, 'It's a secret; we're never going to give it to you.' This is a democratic chamber. It's asked for this information to be provided. I'm sure there were warnings. Why, otherwise, would it be that the government won't give us these pieces of paper? There must be a political reason, and we won't give up on this.