Mr PALLAS (Treasurer) (14:18:03) — I have great pleasure to rise to update the house about the progress of the Andrews government’s reforms to support first home owners to get into the market — and it is working. We have made very clear where we stand when it comes to this issue. We are not content simply to sit back and watch young people and renters be marginalised in our community and in our housing markets. That is why we announced Homes for Victorians. Those opposite did not know about it and they did not care. Indeed when they got their head around this policy, they reverted to the staged, tired, old approach of the Tories —

Mr Clark — On a point of order, Speaker, I fear that I have actually risen to rescue the Treasurer, but in fact he was commencing to debate the issue. I ask you to bring him back to making a ministers statement.

The SPEAKER — I uphold the point of order. I ask the Treasurer to come back to making a ministers statement.

Mr PALLAS — Gee whiz. Well, of course this policy is working, and it is working outstandingly. Not only is it working well, despite the fact that we are being called socialists by those over there, but these so‑called socialist policies have been copied in New South Wales and by the federal government — and last time I checked, they were not socialist by any stretch.

In the four months from when these changes have taken place, we have seen more than 3000 young Victorians who have not paid a cent on stamp duty due to this government’s efforts. Right across the board first home buyers are getting back in the market. It is not just us saying it. The Real Estate Institute of Victoria have said it. They have endorsed these policies, our stamp duty policy in particular, and said they have ‘certainly worked’. Australian Bureau of Statistics data released just last week showed a 2.1 per cent increase in owner‑occupier approvals in Victoria, while the rest of the nation is going backwards by 2.3 per cent. That is what good policy work does.