Page 872 - Week 03 - Tuesday, 24 February 2009
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .
successful, still breathing scheme. Today we have proudly received approval in principle. That organisation, until it actually achieves support from the Australian Prudential Regulation Authority, prefers not to be identified, and we will respect that. Over these last seven months we have worked diligently and rigorously to ensure that this scheme becomes a reality. We will continue to do so. We will not put it at risk, we will not talk it down and we will not trash it. We will not abandon young Canberra families with incomes of less than $75,000 who dream of owning their own home. And today we cross a major threshold—approval in principle from a significant institution, a major financial institution, with the capacity to fund loans for all of those families that have sought to access this scheme.
At this stage, as I have said, we are holding 40 blocks. Despite some of the attitude and rhetoric, and the complete misinformation, there has been no stamp duty paid—as Mrs Dunne just asserts. There are no legal fees. This land is being held by the LDA on the basis of expressions of interest—on the basis of expressions of interest by those people that they would wish to access this scheme should they be able to attract a loan, should they be able to attract a financial institution that is prepared.
Today, we have made a major advance. We have agreement in principle subject to approval by the Australian Prudential Regulation Authority. That is a major next step in relation to advancing the land rent scheme and ensuring that it becomes a reality. This is a very significant moment for the scheme. ACT government officials from Treasury and the Chief Minister’s Department, as I have been saying constantly since July, have been in negotiations with all sectors of the financial sector seeking a loan product that meets the needs of those who wish to access the land rent scheme. And today we have a major company, a major institution, that has said, “Yes; we will go with this product. We will provide a product. But we have got some checks to do. We need in the first instance the support of the Australian Prudential Regulation Authority.” Subject to that—and these are still significant issues; there are still hurdles to jump and hoops to go through—we have made a major advance today. I hope that we can maintain the momentum.
I hope that the negativity, the talking down, the trashing and the rubbishing of the land rent scheme that we have seen over the last week has not damaged the prospects of this scheme, has not put at risk the opportunity for those young families to access this fantastic and innovative new route to home ownership. It is very important.
I would hope that we could work together on this and that the Liberal Party would not take the position which the Treasurer and the minister for education described so cogently and well before. What we now see is opposition for sheer opposition’s sake—obstruction for the sake of obstruction; a determination to become the problem, not part of the solution; and a simple incapacity to accept the fact that they lost the last election.
The fact that you lost and you have taken a blow does not mean that you need to abandon completely your responsibility to the people of Canberra in the way that you are doing. All right; you lost. You took a blow. Take it on the chin. Pick yourselves up and get on with the job that you have been elected to do and that you are paid to do—instead of just obstructing every step of the way, putting at risk $230 million of
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .