Page 879 - Week 03 - Tuesday, 24 February 2009
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MR STANHOPE: We all take all sorts of different advice for different reasons. As part of it—and a significant part, and we have made it compulsory, which is very unusual in relation to government projects or proposals—it is compulsory for anybody wishing to access the scheme to attend an information session at the CIT where every aspect of the scheme is explained in detail. We go through the notion of land rent. We go through the issues of finance. We go through respective responsibilities. We go through the issues of costs and the legalities and the nature of what is a unique, innovative and not well understood scheme.
This is not a case of people walking blindly. Every single one of the families that has identified a block and asked the LDA to hold it has been through a compulsory, formal training session or information session in relation to the operations of this scheme. This is not a question of people being hoodwinked or blindsided. There is a formal, compulsory, professionally delivered information session at the CIT in relation to every step and every aspect.
To suggest that people are being blindsided, that people do not know what the issues or risks are—we have been open and up front. We have insisted that people attend and that they cannot access the scheme or land until they do. Through that detail—through those detailed sessions—those people have had explained to them every aspect, including issues and difficulties in relation to accessing a lending product at this stage.
They have not been hoodwinked. They have not been told, “You can access this land and we guarantee you finance.” It is not our business to guarantee finance. We in fact tell them that we are not aware of a financial institution that will lend. They go into this with their eyes open. They are told up front that we the government are working to identify sources of finance. And they still proceed. They still express the interest. They still identify land. They know of no other possibility or arrangement by which they will access home ownership. They know of no other scheme.
The Liberal Party have never suggested a possibility or an option. They would not be going to the Liberal Party for advice, help or assistance or for an innovative solution for families earning less than $75,000. We have. We are. We are proud of it. Today we have taken another significant step on the path in identifying through negotiation a lending institution that today has expressed approval in principle to provide a lending product for land rent.
THE CHAIR: Mrs Dunne, a supplementary?
MRS DUNNE: Thank you, Mr Speaker. I have a supplementary question. Chief Minister, will you offer compensation to those Canberrans who are involved in the scheme and who might wish to withdraw for their out-of-pocket expenses because you have a barely breathing land rent scheme?
MR STANHOPE: There is absolutely no circumstance in which I can imagine or conceive that compensation would be available at all. I think it is an absolute nonsense proposition.
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