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Scott Morrison says it is the GST top up with has allowed WA to declare a budget surplus.
So, you’re welcome, Mark,” he says
Q: The RBA has warned today that Australia’s historically low population growth rate will heighten the risk of falls in property values in the future. And Treasury has said your housing measures bring forward demand for future years. What will the Government do?
Scott Morrison:
Well, the impacts from the COVID-19 recession are obvious. Whether it’s programs like HomeBuilder and others, there will always be an excess of demand over the supply of housing in this country. Always has been. And that’s what has fundamentally driven house price values all around the country.
And that is still true today. There is still a surplus of demand over supply. And that’s why our HomeBuilder program - and to give you an idea of its impact, what we’ve done in the housing sector is we’ve been unlocking and bringing forward the decisions that home builders want to make. And that will see some 20,000 homes built at a cost of around $500 million.
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