Kim Carr (Victoria, Australian Labor Party, Minister for Human Services) Share this | Hansard source

I thank Senator Payne for her question. I remind her that this Labor government has a very proud record of helping to deliver affordable housing to Australians and their families. At the broad level, our economic management has kept unemployment low, it has helped contain inflation and it has enabled the RBA to keep interest rates low. The current standard variable rate of banks has meant that we are well below what the Liberals left us with when they were in government. If you want to talk about housing you have to talk about interest rates. It is quite clear that there is more money in the pockets of Australian families. They are now saving nearly $5,000 a year on a $300,000 loan, compared to the situation on 27 November. I also remind Senator Payne that, when she wants to talk about a commitment to housing, the Liberal government ripped out $3.1 billion from the housing budget and they—