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Wednesday, 15 May 1985
Page: 1973


Senator HAINES(12.26) — The Opposition will not be getting the support of the Australian Democrats in its attempt to delete this clause from the Bill. For the reasons I indicated in my speech at the second reading stage, we do not share the privatisation mania of the Opposition. We believe that if a government corporation or other statutory authority is operating effectively, efficiently and, as in this case, at a profit, it ought to be let go, particularly if it is operating as fairly as possible with regard to private enterprise in the same area. That it has been doing this is reflected in the fact that Mr Mark, Mr Larkey and others from the Mortgage Bankers Association of Australia and from the Australian Association of Building Societies have all indicated very positively that they favour the initiatives contained in the legislation, including the expansion and enhancement of the Corporation's role in the insurance sector.

I point out that part of clause 9 makes quite clear that the Government expects that the Corporation will ensure that a substantial part of its business relates to loans made for purposes of enabling persons to acquire or construct residential accommodation. That of course is the primary aim of the Housing Loans Insurance Act 1965 and subsequent amendments to it. It is the primary role of the Housing Loans Insurance Corporation to make sure that as many people as possible in as many ways as possible are able to acquire or construct residential accommodation. I am not in this place to impede home ownership in any way, shape or form; nor is the Party I represent. We will not be supporting the Liberals' amendment in this area.