Page 1917 - Week 09 - Thursday, 19 October 1989
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MR WHALAN (Minister for Industry, Employment and Education) (4.29): The new measures announced by Mrs Grassby have a significant impact for the private sector. Within my portfolio we have promised to introduce a fidelity guarantee fund to improve consumer protection. Mr Stefaniak has expressed concern about the cost of the administration of the Government's proposals for the rental bond trust and the fidelity guarantee fund. However, Mrs Grassby has indicated that the proposed rental bond board will comprise representatives of the community and private sectors. The existing agents board which will be responsible for the fidelity guarantee fund already has a - - -
Debate interrupted.
ADJOURNMENT
MR SPEAKER: Order! It being 4.30 pm, I propose the question:
That the Assembly do now adjourn.
Mr Whalan: I require the question to be put forthwith without debate.
Question resolved in the negative.
HOUSING POLICY REVIEW 1989-90
Ministerial Statement and Papers
Debate resumed.
MR WHALAN: The existing agents board already has a mix of community, private and government members. I cannot comprehend how Mr Stefaniak can claim that the costs of administration are going to be excessive. Indeed, I am sure that all of the members of these boards will have a concern to ensure that administration costs are minimised, and, if they do not, the Government will make sure they do.
The debate about the cost of public or private sector administration has its origins in political ideology. The real estate industry is not suggesting that it is ready for self-regulation - it is seeking forms of co-regulation between government and industry. That is precisely the model that we are proposing for the rental bond board and the fidelity guarantee fund. The industry has been waiting for a long time for the fidelity guarantee fund, and it is the prompt action of this Government that will deliver it, in association with the rental bond trust.
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