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Legislative Assembly for the ACT: 2009 Week 8 Hansard (24 June) . . Page.. 2850..


Mr Smyth: I would like him to answer the question. The question was about the size of the deposit and why it does not appear in his ad or the press release, not about what Mr Coe did or did not do.

MR SPEAKER: Mr Stanhope, let us try to tackle the specific question.

MR STANHOPE: I will. I will expand. I have the numbers in relation to these issues. If a young Canberra family wanted to borrow $150,000 to build on land valued at $150,000, the land rent payment of two per cent would be $250 a month. If they then wanted to borrow $150,000 to build a house, a Jennings house, on the Commonwealth Bank's principal and interest current loan at 5.74 per cent, the monthly repayment would be $943. The total monthly repayment would $1,193.

Mr Seselja: So you can get a house now for that price? That is in total contradiction to what you told estimates. You said you can't get it for that price.

MR STANHOPE: Not with all the added extras, you cannot.

Mr Seselja: You can't be telling the truth now and in estimates.

MR STANHOPE: Not with the internet connected, not with carpet, not with all the fittings, you cannot.

Mr Coe: Can they do it, Chief Minister?

MR STANHOPE: Of course they can, without carpets, without blinds, without internet connection.

Mr Smyth: Floorboards, tiles.

MR STANHOPE: No. This is what people choose to do. We are not offering anything. People choose. (Time expired.)

Budget—support

MS PORTER: My question is to the Treasurer. Treasurer, in the light of the real and challenging external pressures being brought to bear on the ACT budget, what has been the response to the 2009-10 budget and budget plan, and are you aware of any arguments as to why the budget should not be supported?

MS GALLAGHER: Thank you, Mr Speaker. I thank Ms Porter for the question. This, indeed, has been a challenging time in which to put together a budget. The range of external pressures that have been brought to bear on our budget stemming from the flow-on of the global financial crisis has been well documented. The territory's budget has been hit by a reduced GST revenue and income from our investments, loss of income on our assets and subdued activity in the housing market. Ultimately the government made the decision that, rather than put the community through the shock of an immediate adjustment to compensate for our revenue losses by way of massive


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