Glenn Sterle (WA, Australian Labor Party) Share this | Link to this | Hansard source

My question is to Senator Minchin, the Minister for Finance and Administration. Can the minister indicate whether he has been consulted about the Treasurer’s plans to build his own official residence in Canberra? Has a site been selected for the Treasurer’s proposed house? What will be the construction cost? Can the minister confirm that the running costs would be in addition to the $1.5 million a year that taxpayers already spend on Kirribilli House and the Lodge? Why is the Treasurer’s only policy on housing affordability a taxpayer funded grand Canberra home for himself? Why isn’t he instead taking action to help young Australians and their families who can no longer afford to buy their own home since the government broke its promise to keep interest rates at record lows?

Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Link to 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.

Glenn Sterle (WA, Australian Labor Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Does the minister know whether the Treasurer’s desire for a taxpayer funded home is a reflection on his current housemates, Senator Colbeck and Senator Mason? Has the Treasurer simply decided that if he cannot destroy the Prime Minister as he says he wants to then he will accept a taxpayer funded house as a consolation prize? Does the minister believe that someone who said he would carp at Howard’s leadership from the backbench until he destroyed it and won the leadership deserves a taxpayer funded house?

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

I take this opportunity to commend the Treasurer for being so sensible as to share his house with two senators—what an admirable proposition that is. And who better to share a house with than Senator Mason and Senator Colbeck? That is why the Treasurer ruled out any proposition that he as Treasurer would want to move into an official residence: he so enjoys living with Senator Colbeck and Senator Mason, for which I commend him.