STATEMENTS BY MEMBERS

Mr KENNEDY (Cook) (13:51): Those opposite don't hear me say this very often, but the PM has achieved something extraordinary—absolutely extraordinary. He's managed to crash housing prices yet somehow make housing less affordable. Let me give you a quote, and let's see how those opposite feel about this quote.

Here's the quote: The PM is telling the country with glee that the price of property is falling, yet the unaffordability rate is increasing. Does that sound accurate to those opposite? There's shaking of heads.

There's some no shaking of heads. Let me tell you who made that quote. It was Bill Kelty—Labor royalty.

He was the president of the ACTU for 17 years, a giant of the labour movement who did the economic reforms of Hawke and Keating. What was Bill Kelty talking about when Jim Chalmers said that income tax is the lowest of GDP? He said the Australian people should say, 'Don't insult me'.

What Kelty says is real wages are down five per cent, Sydney property values are down seven per cent, and yet somehow housing affordability is at the worst level on record. I'm sure first home buyer applications have improved, haven't they? They're down 30 per cent!

I'll bring back the beard when Albo scraps the CGT. The DEPUTY SPEAKER ( Ms Claydon ): Member for Cook, there were two comments in that 90 seconds that were inappropriate. I've reminded you before about the use of correct titles when referring to any members in this House.

I won't allow it again.