TIM PALLAS (Werribee – Treasurer, Minister for Industrial Relations, Minister for Economic Growth) (14:27):

We on this side of the house believe that more homes means more opportunity, and that is why the Allan Labor government is slashing stamp duty on off-the-plan apartments, units and townhouses to cut up-front costs, speed up building and make it more affordable to everybody –

Tim PALLAS: With regard to the announcement that I made last Monday – last Monday, for those who are a bit slow picking up media releases – I announced that first home buyers and owner-occupiers can access stamp duty concessions when they buy off the plan.

Tim PALLAS: I am trepidatious, but I am going to soldier on. One of the most important things you can do for Victorians is to recognise the material circumstances that they confront. Nothing gives greater certainty to Victorians than the security of a roof over their head and the acknowledgement that there is a government that is motivated to ensure that they will get there.

We know that the building industry has been doing it tough in recent times, in no small circumstance due to peaking prices around commodities and also of course a consistently high level of interest rate charges. What this has meant is that there has been an inability to deliver the level of housing stock that we need to assure people of the certainty and security of a roof over their head. That is why this government, more than any other government in the nation, is producing more housing stock, more housing approvals. But we need to do so much more, and that is why this government will continue its efforts to not only loosen up the burden of tax where it is appropriate to get people into homes but also help developers get on and deliver that housing stock that is so vital to their future.