Journalist:
We've looked at two very different developments today. What are your thoughts having looked around this and obviously what the NHFIC loan will be able to help Bridge achieve?
Michael Sukkar:
Well I think it looks like a great development and we've just met with some residents who seem really happy with not only their homes, but the services that are provided by Bridge Housing as well.
As far as what we're announcing here today, a $40 million loan for Bridge Housing. They estimate it's going to save them $7 million of interest payments. That's what NHFIC was created to do, to funnel low cost finance to community housing providers because we know a dollar less that they have to spend in interest is a dollar that they can invest in more housing or better services. I must say, I'm very impressed with the Elger Street site, it's a great looking building and to hear the stories of the residents who obviously are so happy with their relationship with Bridge Housing but also the quality of their home, is exciting to see.
Journalist:
How good was that to be able to hear from residents obviously out at Liverpool today to see where they're going to build but here we're hearing from people who are benefiting from, you know, it's no longer just lines or budgets or money anymore, is it? It's actually having an impact on one gentleman. His point was you can't do much without an address and really, this funding and these loans have given him a new-found confidence and an address.
Michael Sukkar:
Yeah, I think Jonathan from the Elger community made that very powerful point. And, you're right, it was nice to see the Liverpool site which was all in front of us and then to come here to Elger Street in Glebe to see the finished product and just how much it does transform people's lives. Credit goes to the New South Wales State Government who have been a good partner in these projects. The Federal Government has obviously stepped in but community housing providers like Bridge, like BlueCHP that we spoke to this morning, they join the dots between levels of Government. They make these projects work and in the end, they deliver great services.
Journalist:
Just on another issue, cladding has been a big topic the past 48 hours. What do you make of what the Victorian Premier has announced?
Michael Sukkar:
Well the Victorian Premier presides over a Government that has accepted planning fees, stamp duties, land taxes, in their most recent budget land taxes and stamp duties of some $7 billion. They now have a problem caused by their lack of ability in enforcing their regulations on planning. Rather than cleaning up their own mess, they're now looking towards the Federal Government.
Let's be clear, Victorians will now have to deal with this mess that has been created by the inaction of the Andrews Government and given that they have accepted those billions and billions of dollars in planning fees, in land taxes and in stamp duties. I think Victorians rightly expect that the State Government should be the ones to sort this problem out.
Journalist:
Would your position be the same on the New South Wales Liberal Government because they've got a similar issue here? Yesterday, we heard there's 130 high-rises or developments in Parramatta?
Michael Sukkar:
Well the Victorian Government has come out and essentially said that they're not willing to take full responsibility for it. I think that's an issue. I think Minister Andrews is sitting down with all of the state ministers, including New South Wales tomorrow, at a Ministers forum and will work out, I hope, a solution that includes New South Wales but it was just interesting to see the announcement of the Victorian State Government yesterday, who really didn't want to take responsibility for problems created by their inability to enforce their own regulations and given the amount of money that they collect in property taxes, you'd think that they would be able to deal with an eventuality like this which has been caused by that lack of enforcement.