Sussan Ley (Farrer, Liberal Party, Shadow Minister for Women) Share this | Link to this | Hansard source

My question is to the Prime Minister. This week the RBA governor offered an unqualified apology to any Australian affected by his advice that interest rates would stay low. Given just months ago the Prime Minister went even further than Governor Lowe and actually promised cheaper mortgages, why has he failed to offer the same apology to the Australian people?

Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I thank the member for her repeat of a question. Let me go through the issue very clearly. The Help to Buy scheme, a shared equity scheme which I announced at the ALP election campaign in Perth, is that: a shared equity scheme. If you have 100 per cent of a mortgage by yourself, you pay 100 per cent of the interest yourself. If you have a shared equity scheme then by definition a portion of that is not paid by you. That's what a shared equity scheme is. It is completely relevant. It is the way that it works. If you don't understand it, I suggest you talk to the New South Wales Liberal government, which is implementing a scheme, or the Victorian government or the WA government—or, indeed, have a look at what the former Prime Minister Scott Morrison had to say about such schemes in the past.