Senator SINGH (Tasmania) (15:21): It is a bit rich, I think, for the opposition senators to start talking about budget black holes on the government's side which are clearly hypothetical and speculative, not confirmed or based on fact, when they have very much a confirmed $70 billion black hole. They stand for a $70 billion black hole, cuts to services and cuts to jobs. This was confirmed by Joe Hockey and Andrew Robb. It is a bit rich of them to come in here and start talking about black holes and also for Senator Williams to go on some tangent when he should know very clearly by now the standing orders in this place. If not, I suggest to him, as someone who is still relatively new to this place, to read his Odgers', which he would have received, as we all did when we started as new senators in this place, so as to understand the standing orders during taking note of answers. We have to be relevant to the questions from question time which we are taking note of. Even I know that much. Senator Ian Macdonald: Madam Acting Deputy President, I rise on a point of order. On your ruling, this senator is now talking about Senator Williams and something he may or may not have done. That was not the subject of any of the questions at question time today. On your ruling, you will tell this senator to move on to the debate before the chamber. The ACTING DEPUTY PRESIDENT ( Senator Crossin ): It is not a point of order, Senator Macdonald. Senator Singh is well aware of what this half an hour is for during the Senate time, and she is taking note of the answers to questions. Senator SINGH: That Senator Williams's contribution to take note focused in part on this new rhetoric coming from senators opposite about a black hole is incredibly rich at a time when they have confirmed a $70 billion black hole on their side.— Senator Hanson-Young: And growing. Senator SINGH: And growing indeed. We all know exactly what that means. I think Senator Payne, who talked about the importance of housing and the growth in housing, needs to have a little reflection on that and what it would mean in terms of a $70 billion black hole and also on the fact of what occurred in housing under the federal Liberal government. The federal Liberal Party ripped $3.1 billion out of the housing budget. It actually voted against the building of 20,000 new homes the last time it had the chance to support affordable housing. I am sure that Senator Payne is a champion of housing. I am sure that she has some concern about the need for social housing, as we very much do on this side. It is why we have implemented a number of policies in relation to social housing. If that is her personal concern, she needs to understand that she is in the wrong party, because the party she is in, as I said, ripped $3.1 billion out of social housing and voted down the creation of 20,000 new homes the last time it had the chance to support social housing. In contrast, our record when it comes to the housing portfolio is a very proud one. It is a proud record of helping to deliver affordable housing to Australian families. At the broad level, our economic management has delivered a budget into surplus, kept unemployment low, helped to contain inflation and enabled the RBA to keep interest rates low. The current standard variable interest rate for the major banks is at 6.82 per cent—well below what it was when the Liberals left office. Of course, that means more money in the pockets of Australian families. Families are now saving around $4,000 a year on a $300,000 home loan compared to November 2007. Since coming to office, the government has also directly contributed to the construction of one in every 20 new homes through programs like the $6 billion investment in social housing and the $4.5 billion investment in the National Rental Affordability Scheme—a scheme that has really benefited a number of low-income Tasmanians in my home state. In fact, in the long-term, the government has committed to providing 50,000 new more affordable rental homes through the NRAS by 30 June 2016. So our record is very strong when it comes to social housing, because that is what Labor governments do. They support those in need. They support those low-income Australians who need support to get into the housing market and who need support to get into an affordable rental market. We support Australians who need support through all kinds of social housing; hence, the breadth of our housing portfolio—something that was completely destroyed during the time the Liberal Party were in office, and it is something that Senator Payne needs to reflect upon.