Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Wong. The people of our home state of South Australia, who have suffered from a wasted decade on housing under the former Liberal government—

Anne Ruston (SA, Liberal Party, Shadow Minister for Health and Aged Care) Share this | Link to this | Hansard source

You don't have to ask the question.

Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

Thank you for your interjection, Senator Ruston. I know it's quite problematic listening to the realities of what a lack of housing policy, which you had for 10 years, has done to this country. My question to Senator Wong is: how is the Albanese Labor government making it easier for young Australians with a student debt to buy their home sooner?

Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Link to 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.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Grogan, first supplementary?

Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

We know that one of the most important factors in housing affordability is the supply of housing. Can you step us through how the Albanese government is boosting housing supply now and ensuring Australia has the workforce to continue to build homes into the future?

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

Thank you, Senator Grogan. You're right that, after a wasted decade, we do need to urgently boost housing supply, which is why we are building more homes more quickly in more parts of the country. That is why we are training more tradies, funding more apprenticeships and growing the construction workforce. This is why we are kickstarting construction by cutting red tape and providing incentives to state governments to get homes built faster and we are delivering the largest investment in social housing in more than a decade to help reduce homelessness.

Getting over a million homes built by the end of the decade won't happen overnight, but it will not happen at all if the Liberals are back in charge. The reality is Mr Dutton and those opposite would rather fund bosses' long lunches than build homes for young Australians.

Hon. Senators:

Honourable senators interjecting—

Sue Lines (President) Share this | Link to this | Hansard source

Senator Grogan will ask her second supplementary in silence. Senator Grogan?

Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

It's really great to hear all of those excellent policies, Minister. There have been reckless calls, however, to allow Australians to raid their superannuation for a housing deposit, which would only make homes more expensive and reduce retirement incomes. Why is the Albanese government—

Hon. Senators:

Honourable senators interjecting—

Sue Lines (President) Share this | Link to this | Hansard source

I'm not sure which part of, 'She will ask her question in silence,' senators, particularly on my left, didn't understand.

Karen Grogan (SA, Australian Labor Party) Share this | Link to this | Hansard source

Minister, why is the Albanese government focused on an ambitious housing agenda, and why has the government taken this approach?

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

We have an ambitious housing agenda because we want to fix the Liberal-made housing shortage. In addition to building 1.2 million new homes and the announcement we have made today, we are supporting first home buyers with the First Home Guarantee, the Regional First Home Buyer Guarantee and the Family Home Guarantee. We've introduced the Help to Buy scheme to help 40,000 low- and middle-income households purchase a home of their own. We've strengthened renters' rights across Australia, we've increased rent assistance and we're building more social and affordable rental homes. We have clear, credible, costed and coherent plans to build a better future for the country.

The only policy those opposite seem to have for first home buyers is to say, 'Raid your super,' which will drive up prices. It does nothing for supply; it drives up prices and leaves people worse in the long run. You want people to sacrifice retirement savings; we want people to buy a home and save for the future.