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Legislative Assembly for the ACT: 2009 Week 4 Hansard (25 March) . . Page.. 1291..


MR STANHOPE (continuing):

very significant, innovative, Australian-leading and, in many instances, unique initiatives being pursued by this government that, over time, will of course produce a significant—

Mr Coe: Very special.

MR STANHOPE: They are. There are some shared equity schemes in other places in Australia, most particularly South Australia, with a very successful scheme. There is no other land rent scheme such as that which we have modelled and which is actually progressing strongly.

Mr Smyth: On a point of order, Mr Speaker: we are now half way through the minister's answer and he has not attempted at all to talk about private rental dwellings. Perhaps you could bring him back to the question.

MR STANHOPE: Of course I have. I have said there are five innovative initiatives we are pursuing.

Mr Seselja: What is the progress on this one?

MR STANHOPE: It is progressing. We have not yet achieved an outcome but it is progressing. I think it has to be said that the significant advance that we have made is reflected in the affordability rating here; the number of housing starts in the last year; the number of affordable homes that are being sold as a result of a whole range and raft of initiatives which we have pursued in relation to land supply and the mandating of 15 per cent of all greenfield developments; OwnPlace; the land rent scheme; the advancing of a shared equity scheme; and our commitment to community housing. Amongst the suite of initiatives we are pursuing is one in relation to the involvement of a major institutional investor in an englobo release of land on the assumption that a significant proportion of the land—

Mr Doszpot: A secret investor.

MR STANHOPE: Yes. It is not, of course, the greatest environment economically at the moment to be actually attracting investment at the snap of the fingers.

Mr Coe: You started in 2007, Jon.

MR STANHOPE: Yes, and we have had a little thing called the global financial crisis in the midst.

Opposition members interjecting—

MR SPEAKER: Mr Stanhope, resume your seat. Members of the opposition, there is some catcalling that goes on at question time but you guys are really pushing the envelope today. We need to be able to actually hear the minister's response to your questions. If you are going to make that much noise, do not bother asking the questions.

Mr Smyth: He does need to answer the question.


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