Tuesday, 22 February 2022

Questions without notice and ministers statements

Housing affordability

Ms STALEY (Ripon) (14:01): My question is to the Assistant Treasurer. With more than 30 per cent of house and land costs now being taken up by state government taxes, can the Assistant Treasurer tell first home buyers in Victoria’s growth areas why they have to pay almost $20 000 more because of yet another new state government tax just to buy their own home?

Mr PEARSON (Essendon—Assistant Treasurer, Minister for Regulatory Reform, Minister for Government Services, Minister for Creative Industries) (14:02): The package of reforms that has been announced is a significant—

Members interjecting.

The SPEAKER: Order! I warn members not to shout across the chamber.

Mr PEARSON: Thank you, Speaker. The package of reforms that has been announced goes to the very heart of reducing the regulatory burden for business. It is about trying to smooth the pathway to make it easier for developers to get their projects to market. This is about making sure that we can reduce the cost for those businesses, and as part of that it is about trying to make sure—

Members interjecting.

The SPEAKER: Order! I ask the Assistant Treasurer to resume his seat for a moment. Just before calling the Manager of Opposition Business on a point of order, we have started question time with a lot of shouting, so I warn members they will be removed from the chamber without warning.

Ms Staley: On a point of order, Speaker, on relevance, I have asked about taxation and a new tax. The assistant minister appears to be reading the wrong possible parliamentary question in relation to a different thing.

Members interjecting.

The SPEAKER: Order! Further on the point of order, the Leader of the House.

Ms Allan: On the point of order, Speaker, I think the Assistant Treasurer would be lucky to have been going for 30 seconds before—

Members interjecting.

Ms Allan: I love your help, Walshy—I just love it. Speaker, the Assistant Treasurer had been going for only 30 seconds. He was being entirely relevant to the question that was asked by the member for Ripon. Her question covered a range of different references to government policy, and I think he is entirely entitled to be allowed to continue to answer her question without this grandstanding.

The SPEAKER: Order! The Assistant Treasurer had only begun his answer. I ask the Assistant Treasurer to answer the question.

Mr PEARSON: Thanks, Speaker. Look, these reforms are going to deliver significant benefits to the development industry. We estimate it will be in the order of $7 billion in profits over the course of 10 years, and we think it is only fair and reasonable that some of those benefits get passed on to the end consumers. In addition to that, I think it is important to note that as a government we have provided significant support to first home buyers. We have made sure that, in relation to the Victorian Homebuyer Fund, 3000 Victorians have got into their homes more quickly—as a result of this $500 million Victorian Homebuyer Fund. These are significant investments that we are making for first home buyers. What is being proposed is a package of reforms. It is going to reduce the cost of business, it is going to reduce the regulatory burden, it is going to make those businesses more profitable and it is to be commended.

Ms STALEY (Ripon) (14:05): Thirty-year-old Claire has scrimped and saved to get a deposit to build her first home in Melbourne’s south-east. Like so many in her circumstance Claire has said, ‘I’ll never have a chance with all these new taxes’. Why have the Assistant Treasurer and the government specifically targeted young people like Claire to wear the burden of this huge new tax?

Mr PEARSON (Essendon—Assistant Treasurer, Minister for Regulatory Reform, Minister for Government Services, Minister for Creative Industries) (14:05): I disagree with the supplementary question from the member for Ripon. We have provided a $500 million Victorian Homebuyer Fund, so that is going to get about 3000 people into a home more quickly. We are looking at the abolition of stamp duty if you are a first home buyer and you are buying a home under $600 000, and we are providing a tapered rate for those who are buying between $600 000 and $750 000. In addition to that, last year alone the total value of 51 353 stamp duty concessions and exemptions was $896 million. So we are on the side of first home buyers. That is why we have introduced this package of reforms. It is why we are trying to reduce the regulatory burden for business. It is why those reforms are to be commended.