Julia Irwin (Fowler, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer the Prime Minister to his claim that the states are to blame for the pain felt by mortgage holders from rising interest rates, because they have forced up the price of housing. Does the Prime Minister recall saying in an interview with Neil Mitchell on 22 August 2003:

I haven’t heard anybody complain about the fact that incidentally that their houses are more valuable, they think that is an indication of prosperity and wellbeing.

How can the Prime Minister claim rising house prices are a virtue for households one minute and the cause of all their woes the next? Is this because of his embarrassment over the impact of the seven back-to-back interest rates hikes?

Wilson Tuckey (O'Connor, Liberal Party) Share this | Link to this | Hansard source

Mr Tuckey interjecting

David Hawker (Speaker) Share this | Link to this | Hansard source

The member for O’Connor is warned!

John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

In reply to the member for Fowler: I certainly do remember saying that to Neil Mitchell, and it is true. I have never heard anybody complain about the value of their house. The point I am making is that, if you are to have a market that operates fairly for young homebuyers, you have to remove some of the artificial barriers to entry. We cannot have a society that is only run for the benefit of existing homebuyers and shuts out opportunity for intending homebuyers. That is not the kind of Australia that this electorate wants, and I want to say on behalf of the coalition that we want an Australia that allows young people a reasonable opportunity to buy their first home.

Tanya Plibersek (Sydney, Australian Labor Party, Shadow Minister for Childcare) Share this | Link to this | Hansard source

Ms Plibersek interjecting

David Hawker (Speaker) Share this | Link to this | Hansard source

The member for Sydney is on very thin ice.

John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

That is what we are on about. The Leader of the Opposition can shout as much as he likes. Nothing can alter the fact that if you do not have a reasonable supply of land, if you continue to use the development process to raise revenue rather than governments discharging their responsibilities of providing roadworks, sewerage and guttering, the sorts of basic infrastructure that ought to be provided by government, you are going to continue to shut young homebuyers out of an opportunity of buying their homes. I know the Labor Party is run by inner urban elites, but I would have hoped that they might have had some sensitivity to the young of this country who want to buy a home and who find it necessary to go to the outer periphery of Sydney in order to do so.