Mr WESTRA van HOLTHE - 2016-05-26
Treasurer, as the House knows, the Leader of the Opposition has been mimicking the government on all of our policies. In particular, he grabbed the government’s budget and basically rejigged the money. The Leader of the Opposition has no new ideas and, in fact, he has no idea. Given that the Leader of the Opposition has no new ideas or policies, can you please inform the House of the real difference between the government and the opposition when it comes to the Territory’s finances and how a budget works? I am sure the Leader of the Opposition would love to hear that.
ANSWER
Madam Speaker, I thank the member for Katherine for the great question. At first glance you would think the Leader of the Opposition is the Chief Minister lite. It is like Kevin Rudd was a different version of John Howard. Running up to the last election it seemed he mimicked everything Howard did. The Opposition Leader seems to be doing the same thing. Our Business minister regularly says how every policy in the Business portfolio has been copied and pasted from the government’s policy.
But there is a poisonous jag in everything the Opposition Leader does. The $24 000 stamp duty discount for first home buyers is not anything like our policy and has received some bad reviews. I have a members’ update from the Master Builders Association. I will read an extract from it:
Furthermore, moving $100m out of the Infrastructure Development Fund – the Opposition Leader has also been doing the company directors course so he should know this – moves it from the asset side of the balance sheet to the operational side. That is a $200m turnaround, Opposition Leader, on your budget. He is putting an extra $120m into education and $1.1bn into housing, and somehow he suggests he will also balance the books in 2020. Opposition Leader, there is no such thing as a magic pudding.
Madam SPEAKER: Minister, your time has expired.
ANSWER
Madam Speaker, I thank the member for Katherine for the great question. At first glance you would think the Leader of the Opposition is the Chief Minister lite. It is like Kevin Rudd was a different version of John Howard. Running up to the last election it seemed he mimicked everything Howard did. The Opposition Leader seems to be doing the same thing. Our Business minister regularly says how every policy in the Business portfolio has been copied and pasted from the government’s policy.
But there is a poisonous jag in everything the Opposition Leader does. The $24 000 stamp duty discount for first home buyers is not anything like our policy and has received some bad reviews. I have a members’ update from the Master Builders Association. I will read an extract from it:
- … the prioritisation of existing homes over new builds is the stand-out issue for every contractor, subcontractor and supplier in the residential sector.
New homes attract 10% GST and the FHOG is some compensation for the fact that they are being slugged $50 000+ … on the most important purchase of their lives.
Buyers of existing homes are not paying that tax! Providing a stamp duty concession to just one product in a market simply does not make sense, and risks completely re-writing the market balance between new and existing homes.
The argument that these changes will encourage second home owners to purchase new, or that the proposed renovations package will help the sector, are simply lightweight excuses. The existing housing market has been pumped up by an extended boom period and it needs to readjust to market realism. Throwing incentives into that market just delays the inevitable.
Furthermore, moving $100m out of the Infrastructure Development Fund – the Opposition Leader has also been doing the company directors course so he should know this – moves it from the asset side of the balance sheet to the operational side. That is a $200m turnaround, Opposition Leader, on your budget. He is putting an extra $120m into education and $1.1bn into housing, and somehow he suggests he will also balance the books in 2020. Opposition Leader, there is no such thing as a magic pudding.
Madam SPEAKER: Minister, your time has expired.
Last updated: 09 Aug 2016