Andrew Bragg (NSW, Liberal Party, Shadow Assistant Minister for Home Ownership) Share this | Hansard source

The government are so sensitive and so embarrassed about their terrible failure on housing that it seeks to obstruct debate. The reality is that after 2½ years Labor have failed on the supply side and the demand side. The Australian dream is slipping away from younger people, which is why under-40s are going crazy about this government's failure to build houses and help younger people get into their first home.

The reality is that there are fewer homes being built under this government than there were under the last government and there are fewer first home buyers getting into those few houses that are being constructed. So, after failing to legislate their key demand-side policy for more than 800 days, they now want to come in here and ask us to vote on it. Maybe it's because the election is approaching and they are embarrassed that the next time they have a campaign launch they'll be launching the same policy.

Over the last 2½ years, the government have had a handful of policies on housing. One of them is what I call their 'corporate' housing policy, which Senator Gallagher loves, which is where the super funds and the foreign fund managers are given tax cuts and incentives to build, construct and own houses and then rent them out to Australians like they're serfs. This is part of their 'rent forever' plan, which is now underwritten in the budget in perpetuity. But what you never hear the government talk about is lending policy, banking policy or how we can help people get a first mortgage. The government never talk about that, even while banking policy is within the preserve of the Commonwealth government.

Another thing you never hear them talk about is super, other than how they can help the funds own all their houses and become landlords. They never talk about people's lived reality, which is that we're living in an age where, because of compulsory super, a large group of people now have super as their biggest pool of capital. So, unless you have the access to the bank of mum and dad, which is now the sixth biggest lender, this is your best chance of getting into a house. The key determinant of your success in retirement is not your superannuation balance; it is your home ownership status. That is why we make no apology for allowing people to use their own money, unlike Labor, who see people using their own money as 'raiding'. It is a bizarre world they're living in.

Question agreed to.