Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

I thank Senator Grogan for her question, and she knows so well not only from being a senator but from her professional history how important housing is and how tough it is, particularly, for young people to enter the housing market. We know that, because of the failures of the Liberals and Nationals during their time in government, it has been so difficult for young Australians to get into the housing market. Before today, one of the barriers they faced, especially those with HELP debts, was the reluctance of banks to give them a mortgage. I'm very pleased to update the Senate on the commonsense arrangements changes the Albanese government has announced today, which would help even more Australians buy a home sooner.

I would hope, Senator Henderson, you might listen, because surely you would want more Australians to buy a home sooner. The government has been engaging with regulators and banks, and financial regulators have agreed to update their guidance to make it easier for Australians with a student debt to responsibly take out a mortgage and buy a home.

You would have thought those opposite would think, 'This is a good thing—more people buying homes.' Helping more people into homes may not be Peter Dutton's priority, but it is one of the Albanese government's highest priorities. We have also asked APRA to update and clarify its regulatory guidance to help unlock the construction of more units. Housing is one of our priorities, which is why we have our Homes for Australia plan, which includes the biggest home-building program of any government in history, delivering 1.2 million homes by the end of the decade. Mr Dutton's cut to housing would mean fewer homes when what Australians actually need is more homes. Australians know they can't trust the same people who created the housing crisis to fix it. Australians will be worse off under Mr Dutton.