Fatima Payman (WA, Australia's Voice) Share this | Hansard source

I too rise to take note of the explanation, or non-explanation. Senator Bragg has been seeking the modelling of the five per cent deposit scheme since August of last year, and the government still won't give it up, but I commend Senator Bragg's persistence. At least in his case he's got a response, or somewhat of a response. In a motion that I moved, the Senate sought more information on the five per cent deposit scheme in November of last year, and the Minister for Housing hasn't even responded to it yet. In 142 days, the only documents the Minister for Housing has provided are letters which ask for more time. Can you imagine going into work and giving your boss some 'dog ate my homework' excuse for a task that is 131 days overdue? It isn't as if the Minister for Housing has to do all the work by herself. Leaving aside the hundreds of public servants at Treasury at her disposal, the minister has 13 full-time advisers. It's just astounding. While the government tries to hide their modelling from people like me and Senator Bragg, this policy is clearly driving up house prices all across the country.

We're not trying to bring down house prices.

The minister said that on radio last year. The government is merely trying to achieve sustainable price growth. They've said it themselves. They're not here to bring down prices.

Let's get this straight. This government implemented the five per cent deposit policy, which it knew would increase house prices. It did not believe house prices were increasing fast enough to be sustainable. In January, it was reported that the median price of a house in Perth had more than doubled since 2019. This government looked at that and said, 'That can't be sustainable; prices need to be growing even faster, so let's add more fuel to the fire!' How does that make sense? How can this government say with a straight face that it is working to get people into their first home as it deliberately pushes entry-level homes further and further out of reach? Becoming a homeowner will soon change from a thing to be celebrated to a thing being mourned, as more and more Australians become homeowners as a result of their parents dying. We hear about how the government has its foot all the way down on the supply pedal. The $10 billion Housing Australia Future Fund has built less than 1,000 homes. If Australians are going to see serious changes to housing affordability, then this upcoming budget in May must make bold changes that go to the heart of the housing crisis, with negative gearing and the capital gains tax discount right on top of that list. We've seen the doublespeak report of the Select Committee on the Operation of the Capital Gains Tax Discount, but Australians need to see actual movement of these tax rorts that are advantaging the investors who keep first home buyers out of the market.

The numbers are here. You don't need to read the budget. You could pass these reforms through the Senate today, and you would have our support. The major parties are always rushing things through this chamber without thinking, without scrutiny, so why not rush something good through for a change? When people have the security and the stability that owning their own home provides, it truly allows them to do more than just survive. They can plan for their future, they can start thinking about starting a family, and they can start to innovate. If we want to address this country's productivity woes, we need to create an environment where people feel safe enough to take those measured risks, not just make ends meet. In the meantime, it's super important that the minister complies with this particular order.