Senate Economics Legislation Committee [Part 2], , 4:20:39 to 4:25:35
Discussion of a $1.1 billion budget variance and the findings of an ANAO report regarding the ratio of new builds to purchased homes under the Housing Australia Future Fund.
Topics: Government spending, Integrity
Speakers: Ben Rimmer, Senator Andrew Bragg, Senator Tim Ayres, Unknown Speaker, Senator Barbara Pocock
suggests housing Australia underspent a bit over a bill um and did the same in 2526.
uh Senator that the there is definitely a positive figure in the final uh the final budget outcome. Um that uh from memory it's 1.1 billion.
>> That's right.
>> Um about 400 million of that is a technical issue about the way Arbor is financed and a liquidity fund basically as money flows to and from central government and housing Australia. So that 400 million is really a technical issue.
>> so it's not it's not an underspend then.
>> No. Um
>> it's technical is it? Okay.
>> There there is a matter that I guess is is more appropriately thought of as closer to an underspend which is uh the initial predictions for help to buy expenditure out by about um I don't know 15%. Uh
okay
>> in the first year just because it was a part year effect. So there was 187 million there and the the largest number was uh draw down of half concessional loans uh which was just a little bit behind schedule and was um uh was show was showing a variance of 56 million. And that really just reflects uh different uh different decisions made by proponents about when they were uh ready to draw down those loans that they would they've been granted.
>> So it doesn't reflect uh any uh inability to get the money out the door.
No, I mean I think Senator would probably all prefer uh that um the concessional loans and other financing was flowing as fast as is possible because I think we all understand how important every social and affordable home is to get as soon as possible.
>> It's not behind schedule. Okay, that's good to know. Um has the board considered this ANAO report?
frustrate you, but this this has been mischaracterized in in Senate.
>> Sorry, I just
>> considerations.
>> I appreciate you being here as a Treasury official, but I'm here to ask questions of their housing Australia.
>> ANIO report is an a report into Treasury's management of of this program. It's not a report into the House. It's not a report into Housing Australia.
>> Understand that. I'll come to you in a minute. Thanks, Mr. R. Is the board considered >> stage senator? No, >> haven't considered it. Okay, you can answer now. So what have you done with
>> Uh well Senator um ANO made from memory five uh recommendations. Uh Miss Hunter can talk to the detail of uh
>> so I'll just ask you a question before you do your set piece. Um so the ANAO said 1,400 houses of the 40,000 had been built. Of those 700 odd were new homes and 670 were purchased. Um, so this is the we've discussed this before. I mean, you know, Minister has said it's not buying houses. You say it's not buying houses. That >> none of them have been lived. >> The ANAO says that they're being Well, you're buying them from developers.
>> You're you're you're a desperate sad rush to mischaracterize this uh they are all built. >> uh and delivered and payment is delivered uh at the time somebody puts the key in the lock >> uh and uh and that is the way that that is contracted to happen. Um you have been desperate to try and
mischaracterize that >> order the general said.
>> Oh no no no.
>> Have you read the report?
>> No no no. But but but I know I've watched I've watched your approach to these issues over many years now but for trying to stop the half in the Senate then complaining about it being delayed >> and then uh and then mischaracterizing the the good work that has happened here um the problem the problem with the approach that you take a political level at a political level is that every day more homes are built >> uh and your argument some weaker which I
think is why
You're less committed to it. conduct tonight. Less and less committed to this argument because the program is becoming more and more successful.
>> Well, you haven't read the report. That's that's what this reveals.
>> Well, I know exactly how the half uh conducted.
>> It said it bought 650 670.
>> Yeah. Built for the half and delivered for the half and paid for bought for would not otherwise have been constructed. Nobody's ever lived in them
>> This is probably not Let me come back to
the the department. So, What did the department advise in