Vacant Residential Property Tax

The Hon. M.C. PARNELL (14:43): Supplementary question: if the vacancy tax idea has been rejected, what other levers does the Treasurer believe the government has to free up vacant residential properties, some of which we note are vacant for years and years?

The Hon. R.I. LUCAS (Treasurer) (14:44): That is an issue I would need to discuss with my colleagues responsible for both land supply and housing policy. I would not put myself out there as the fount of all wisdom in relation to housing policy under the Marshall Liberal government. I have many colleagues who have portfolio responsibilities in that particular area. I am sure it will be an issue that a Marshall Liberal government will need to address across a number of portfolio areas. There isn't just, if I can put the point of view, the simple tax lever that could or should be used in relation to housing affordability.

There are a range of other issues. I am not sure whether the honourable member has served with me on previous Legislative Council committees when we have taken evidence on housing supply in particular and the impact that restrictions on housing supply have on housing and land costs in capital cities in particular. I am struggling to remember which one it was, but I suspect it was the Statutory Authorities Review Committee when it actually did an inquiry into the Land Management Corporation, one of the predecessor organisations to Renewal SA, which was the land bank for former governments, both Labor and Liberal. That committee took evidence from a number of national and international experts who argued the case that land supply was the major determinant on housing affordability in capital cities in particular.

I have to say there were also other experts who disagreed with that particular point of view and I suspect that, given the furious nodding of the honourable member, he might be in that particular camp or category. So there are a number of other levers, to use the honourable member's word, which are open to governments. Some of those levers are not within my responsibility as the Treasurer. Certainly it will be an issue that my colleagues with those portfolio responsibilities and I, as part of a new cabinet, would need to have a look at in terms of housing affordability.