Answers to Questions

Dowling disputed the characterisation of negative equity as a crisis, noting it affected less than two per cent of borrowers and was a normal part of cyclical market corrections. Dowling highlighted record-low unemployment and strong household balance sheets as evidence that mortgage stress was not widespread. Dowling argued that housing price growth had outpaced wage growth significantly since 1999, making intervention necessary to improve affordability. Dowling emphasised that increasing housing supply remained the primary strategy for addressing market imbalances.

Antic criticised the government's climate policies, linking them directly to the permanent closure of the Whyalla blast furnace and the loss of 500 jobs. Antic argued that decarbonisation efforts made manufacturing uncompetitive compared to international rivals like China, which benefited from cheaper energy. Antic challenged the government's claims of becoming a green energy superpower, citing previous statements by the Minister for the Environment regarding green hydrogen as contradictory to current outcomes. Antic suggested the government prioritised global climate positioning over domestic industrial viability.

Ghosh expressed sympathy for affected workers but argued the coalition lacked a coherent industry policy, contrasting their current complaints with past opposition to industrial support measures. Ghosh stated the blast furnace closure was due to failures in maintenance investment and outdated technology, rather than energy costs, and highlighted worker safety concerns. Ghosh defended the government's approach to industry policy as necessary for diversifying the economy and securing supply chains in a competitive global environment. Ghosh rejected comparisons with China, arguing that Australian economic policy required a more nuanced approach than simplistic energy cost arguments.

Blyth argued that high electricity prices, driven by government policy, prevented necessary investment in the blast furnace technology, leading to its closure. Blyth highlighted the loss of sovereign steel-making capability and the impact on defence infrastructure projects, such as submarine construction. Blyth criticised the government's green hydrogen strategy as a failed fantasy that had undermined the industrial base. Blyth noted that only a small number of replacement jobs were available for the hundreds of workers made redundant, describing the outcome as a catastrophic policy failure.