Barbara Pocock (SA, Australian Greens) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for Housing, Senator Ayres. Inflation is hitting Australians hard. Many households are just one or two interest rate or rent hikes away from losing their homes. Over the past four years since coming to power in 2022, Labor has wasted $53 billion on tax concessions for wealthy property investors—money that's benefited top income earners and investors while pushing up housing prices and fuelling the crisis. This is $53 billion which could have gone to building public social housing for ordinary Australians. A further $190 billion will be wasted over the next decade if Labor continues with these massive tax benefits. Minister, will you commit to scrapping the tax breaks at the May budget as a down payment on housing equality?

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

In relation to tax policy and the government's fiscal settings, I'm sure that you'll be waiting, as all of us will be, for announcements that the government makes in the budget in the normal way. But our approach on these issues hasn't changed. Our focus is on delivering tax cuts for every taxpayer. The Treasurer, the Prime Minister and the Minister for Housing have acknowledged that there are intergenerational issues in housing and tax, and we've got a big agenda to deal with those issues. Intergenerational equity was, indeed, one of the big reasons behind our tax cuts for every Australian taxpayer—tax cuts that the Liberals and Nationals said, when they went with their big-taxing approach to the last election, they would reverse. That was the position of the Liberal and National parties on intergenerational equity. They wanted to lift taxes for working Australians and lift taxes for ordinary Australians. That was Mr Taylor's proposition, that was Senator Canavan's proposition, to lift taxes for—

Sue Lines (President) Share this | Link to this | Hansard source

Senator Pocock?

Barbara Pocock (SA, Australian Greens) Share this | Link to this | Hansard source

I have a point of order on relevance. I made no inquiry about what the opposition were up to. I was asking about your policy.

Sue Lines (President) Share this | Link to this | Hansard source

Thank you, Senator Pocock. I will direct the minister back to your question.

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

I will just say that the Labor Party is the only party in this place that's capable of delivering a fairer, simpler and more sustainable tax system that deals with those issues that you have included in your question. Our approach on housing more broadly is, as you know, squarely focused on the questions and challenges of supply—that is the question of making sure that the private market and the Australian government's investments, through the housing affordability future fund and the raft of other measures that we've undertaken are directed towards building more houses. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Pocock, first supplementary?

Barbara Pocock (SA, Australian Greens) Share this | Link to this | Hansard source

Anyone watching the HAFF closely knows it is not touching the sides of the housing crisis we face. Many Australians are feeling anxious, and no wonder—an illegal war is causing inflation. We're seeing interest rate hikes instead of cuts, and we're seeing house prices spike, rents skyrocket and groceries upwards. Big corporations, fossil fuel companies, arms companies, the Coles-Woolworths duopoly and wealthy property investors are raking in huge profits. Minister, why is the government prioritising the one per cent over ordinary people struggling to make ends meet and hold a roof over their heads? (Time expired)

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

This government is a government that came to office in our second term with a plan to deliver tax cuts for every single Australian. Having delivered tax cuts for every single Australian and done the work that was led formerly by Minister Watt and now by Minister Rishworth in the employment relations portfolio to lift wages and make sure that Australians earn more and keep more of what they earn, it's this government that has a very large agenda in housing and construction, driven by Minister O'Neil, to put public effort in to support the private sector to build more homes in a more aggressive way than any previous government.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Pocock, second supplementary?

Barbara Pocock (SA, Australian Greens) Share this | Link to this | Hansard source

Your policies are making things worse. The five per cent home deposit scheme has pushed prices up and made it much tougher for those out there looking for a home. Renters and first home buyers are being pushed into housing stress as interest rates keep going up. While they struggle to keep their one home, they watch the wealthy one per cent buy their fourth, their fifth or their 20th. Minister, how do you think Australians feel when they see people like the Reserve Bank governor buy a fourth house worth more than $2 million on the same day as the last rate increase, as they struggle to fund their own housing? (Time expired)

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

The senator asks about our plan that we've delivered to make sure that Australians, first home buyers, can secure a home with a smaller deposit. You ask about that. You indicate that you're opposed to it. Our friends across the chamber here—in the Liberals, the Nationals and, I think, One Nation—all wanted to vote against it. You've all opposed it, but I can tell you—

Sue Lines (President) Share this | Link to this | Hansard source

Come to order!

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

that for first home buyers, and only that cohort—

Sue Lines (President) Share this | Link to this | Hansard source

Minister Ayres, I'm very sorry. I've called for order. When I was calling for order, Senator McKenzie, you just continued to yell over the top of me, which is extremely disrespectful—as did you, Senator McKim. Minister Ayres, please continue.

Tim Ayres (NSW, Australian Labor Party, Minister for Industry and Innovation) Share this | Link to this | Hansard source

The five per cent off home deposit scheme may be a talking point for the Greens political party and the Liberals and Nationals, and something to oppose. But I tell you what: for the first home buyers who are eligible for it, it means a lot. It's delivering for thousands of ordinary Australians now. (Time expired)