This is a version of a speech delivered by Senator Malcolm Roberts to the Senate, addressing the Help to Buy Bill 2023. Senator Roberts slams the bill for failing to address the core issues of Australia's housing crisis, including supply shortages and increased demand driven by immigration. He warns of the potential negative consequences for homebuyers and taxpayers, while presenting One Nation's alternative policies to make housing more affordable and accessible for Australians.

The Help to Buy Bill 2023 won’t help Australians struggling with the housing crisis. Queenslanders are living in cars, rents are skyrocketing, and house prices continue to soar. In response, the Albanese government proposes a plan for the government to own a significant share of people's homes – 30% for existing houses and 40% for new builds. But this approach is fundamentally flawed.

When you give buyers more money, house prices inevitably rise. The government’s own Productivity Commission warned that unless assistance is well-targeted, it risks driving up demand and house prices. To avoid this, the scheme severely limits the number of participants, acknowledging that expanding it would cause prices to skyrocket. Yet, the bill remains insufficient, helping very few people without addressing the real issue: the lack of housing supply.

Crucially, the bill leaves significant questions unanswered. If homeowners make improvements to their properties, does the government take 40% of the increased value? How will profits and losses be shared when a home is sold? Will taxpayers foot the bill if house prices fall or the buyer defaults on their mortgage? These details remain dangerously vague, raising concerns about government overreach into private homeownership.

The bill also fails to account for regional differences in housing costs. A one-size-fits-all approach, with income thresholds of $90,000 for singles and $120,000 for couples, doesn’t work when housing prices vary drastically between states. Moreover, the bill's constitutional legitimacy is questionable, as housing is traditionally a state responsibility. The late-stage amendments attempting to address constitutional issues further highlight its weaknesses.

One Nation proposes real solutions to the housing crisis. Australians should be able to use their superannuation to buy a home, ensuring they own their property outright. We advocate for reducing demand by capping immigration to pre-COVID levels and banning foreign ownership of residential property – practical steps to free up housing stock for Australians. Additionally, One Nation's People’s Mortgage Scheme would offer fixed-rate government loans to help Australians afford their homes without government ownership.

This bill, in its current form, won’t solve the housing crisis. It risks pushing up prices, leaves crucial questions unanswered, and imposes unnecessary government control over people’s homes. One Nation believes in putting Australians first by offering sustainable and sensible solutions to ensure that more Australians can own their homes outright.