Page 2849 - Week 08 - Wednesday, 24 June 2009
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young, struggling families to be sucked into owning their own home. The rest of us can own their own home—real people, people who actually earn more than $75,000, people that Mr Hanson associates with, the silver spoon brigade, Mr Hanson’s friends and relatives—but Mr Hanson does not believe that, if you earn less than $75,000, you should be sucked into home ownership. Here we have the pathology.
Mr Smyth: On a point of order, Mr Speaker: the question was why his ad does not contain the information that they need four times the normal deposit. Perhaps he could come back and answer the question.
MR SPEAKER: There is no point of order. Unfortunately, Mr Hanson provided sufficient bait that the Chief Minister was taken away from relevancy. I am sure he will return to it now, if Mr Hanson can contain himself.
Mr Hanson: In fact, New South Wales—
MR SPEAKER: Order, Mr Hanson! Do not push your luck.
MR STANHOPE: I think we do need to get in touch with some of the reality of the scheme.
Mr Smyth: Answer the question, please.
MR STANHOPE: I will. That is what I am doing. We need to understand the scheme. We need to understand that, under the land rent component, for a family earning less than $75,000—and that is a figure that changes and is variable depending on the number of children that that family may have, and it increases by just over $3,000—if we have regard to these things, if, for instance, that family chose to rent a block of land under the land rent scheme, a block worth, say, $150,000, then of course their annual payments in rental would be somewhere significantly less than half of the cost they would have to pay if they borrowed that money through mortgage.
I have all the assumptions here. I have all the numbers worked out. I table it, for the edification of members. I present the following paper:
Land rent scheme—Chief Minister’s calculations.
They then need a loan, of course, in order to build a house. In the context of the price gouging allegations that Mr Coe made in estimates—we know Mr Coe tabled the standard Jennings product before going on to allege that Jennings were gouging people under OwnPlace—Mr Coe has tabled the standard Jennings product which you know, and Mr Coe has tabled it, is less than $150,000.
Mr Smyth: Mr Speaker, the question was about the size of the deposit. Would you ask him to answer the question, please?
MR SPEAKER: Mr Stanhope, would you resume your seat for a moment please. Mr Smyth, did you want the call?
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