QUESTIONS WITHOUT NOTICE

Senator WONG (South Australia—Minister for Foreign Affairs and Leader of the Government in the Senate) (14:57): I would make the point that, when you were in government, just over two per cent of borrowers were in negative equity. According to the Reserve Bank of Australia, less than one per cent of mortgage holders are, in fact, in negative equity, and I don't recall you, as a backbencher, or anyone else on that side at that stage talking about negative equity on those occasions.

We did not see outrage from the coalition when it came to the situation where more than twice as many Australians were in negative equity under them, and I think that says something. It says something to Australians that those opposite are very happy to champion the tax breaks for investors, giving them a competitive advantage against first time buyers. But they really can't stand it—can they?—when a government works to ensure that more first home buyers get into the market.

(Time expired) The PRESIDENT: Senator O'Sullivan, second supplementary?