Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

With great respect to Senator Sterle, he is misleading the Senate. I saw that newspaper article. What I saw the Treasurer refer to was his view that the Treasurer after him—and he specifically excluded himself—should possibly have available to him an official residence in Canberra. He did not consult me on that proposition and I would have to say that as finance minister I would have some concerns about such a proposition. If such a proposition ever came before the government, I suspect that I would argue against it. However, I would point out that it is my recollection that there used to be an official residence for the Treasurer. I cannot remember which government closed it; if you did, I give you credit for so doing.

The Treasurer, like me, shares accommodation in this fine city, and there is much to be said for that. As a government, we have no plans whatsoever to reinstitute official residences for the Treasurer. It is rather cheap of the Labor Party, as a party that aspires to government, to suggest that there should not be official residences for the Prime Minister of this country. Whether that Prime Minister is Labor or Liberal, I believe that there should be official residences provided in Sydney and Canberra for the Prime Minister of the day. I think that that is the Labor Party’s position, and it is just cheap politics for the Labor Party to question that.

As to the issue of housing for Australians generally, we are proud of the fact that Australians in this country can aspire to home ownership. We are proud of the fact that interest rates even today are lower under us than they ever were under the Labor Party. Mortgage interest rates under us have averaged some four to five percentage points lower than the average under the Labor Party. Real wages have risen 20.8 per cent under us compared to no growth under the Labor Party. Unemployment is less than half the rate it was at its worst rate under the Labor Party. I am proud that under us Australians have jobs and rising real wages and can aspire to home ownership in this great county.