STATEMENTS BY MEMBERS

Mr HAWKE (Mitchell) (13:42): Labor is pushing one of the biggest tax increases in a single budget on Australians under the justification that they're somehow helping housing, but look at the numbers—$77 billion of increased revenue out of people's pockets and out of their savings and out of their investments into the government's coffers. What they're offering you as Australians is $250 back from them.

That is a really insignificant amount given the $77 billion. But when you look at the housing argument—and we hear it from Labor members every single day—it also doesn't make sense. We've heard the Prime Minister now quote in this House several times the billionaire Harry Triguboff about how much he endorses the government's housing changes in an early rush of applications for new properties.

He's now changed his tune today. The billionaire Harry Triguboff, whom the Prime Minister has quoted about 10 or 12 times as supportive, has now said he's worried that none of these new applicants are coming through and we could have a 40 per cent reduction in the property market. Did Labor model such a thing on stamp duties?

Did they think about the tens of thousands or hundreds of thousands of people that they put onto the five per cent deposit scheme moving into negative equity? What will happen to one of these new people if they move into negative equity and they lose their jobs? What will Labor do?

What will Labor do to protect them? Don't believe what Labor is spinning. Look at what they are doing.

More taxes does not mean more prosperity.