Page 2519 - Week 09 - Wednesday, 7 August 1991
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MS FOLLETT: Mr Speaker, I think really the substance of the response to the question that Mr Jensen has asked was contained in my response to Mr Kaine's earlier question, which is that the detail which they seek is still being worked out. I take on board the problem that Mr Jensen seems to be outlining in his question, and I will make sure that those sorts of views are taken into account in working out the detail.
MR JENSEN: I ask a supplementary question, Mr Speaker. Is it not true, Ms Follett, that your statement which accompanied the announcement said clearly that what I have just outlined would be the case and that no refund would be allowed in such cases?
MS FOLLETT: Mr Speaker, I do not believe that my statement referred to refunds at all.
Mr Jensen: That is the point that I am making.
MS FOLLETT: Yes. So, no, it is not true to say that.
Mr Jensen: No, I did not say that. Do you want me to repeat the supplementary question, Mr Speaker?
MR SPEAKER: Order! Mr Jensen, you do not have the floor.
Mr Jensen: Ms Follett obviously misunderstood my supplementary question.
MR SPEAKER: I think she did understand it.
Housing Trust Loan Repayments
MR STEVENSON: My question is addressed to Mr Connolly. Would the Minister investigate the possibility of having the software in the computer which controls the accounts of the ACT Housing Trust modified to allow borrowers to make loan repayments more frequently, thus reducing the total repayment time and the amount of interest paid by the borrowers? At present the Housing Trust accounts are programmed for monthly repayments. If they are reprogrammed to allow fortnightly repayments as well, this can save hundreds of thousands of dollars in interest payments made by borrowers. I would point out that, with few exceptions, trading banks have already responded to consumer demand in this area and have modified their accounting and computing systems. Could the Minister respond as soon as possible in this matter, so that borrowers will be able to take advantage of the very substantial financial savings?
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