Footnotes

Chapter 1

[1]        Property Council of Australia, Submission 9, p 5. This is consistent with the estimate provided by ABIP's interim CEO, Mr Fahour; Proof Committee Hansard, 14 April 2009, p 38. A lower estimate was provided by the National Australia Bank: 'in December 2008, banks held over A$190bn of commercial property exposure, with an estimated 14% held by foreign banks'; Submission 11, p 2.

[2]        Bills Digest, 17 March 2009, p 2.

[3]        Explanatory memorandum, p 3.

Chapter 2

[1]        Explanatory memorandum, p 10.

[2]        Explanatory memorandum, p 9.

[3]        The Hon Wayne Swan MP, 'Australian Business Investment Partnership Interim CEO Announced', Media Release, 20 February 2009.

[4]        Explanatory memorandum, p 8.

[5]        Explanatory memorandum, p 12.

[6]        Sections 8(4) and 8(5) of the Bill. The maximum term can be extended by regulation.

[7]        Mr Harnisch, Master Builders Association, Proof Committee Hansard, 14 April 2009, p 27.

[8]        ANZ, Submission 12, p 2.

Chapter 3 - Commercial property, the Australian economy and ABIP

[1]        Dr Frank Gelber, BIS Shrapnel, Proof Committee Hansard, 14 April 2009, p 19.

[2]        Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p  2.

[3]        Urban Taskforce Australia, Submission 1, p 1.

[4]        Treasury, Submission 9, p  12.

[5]        Mr Harnisch, Master Builders' Association, Proof Committee Hansard, 14 April 2009, pp 27‑30.

[6]        National Australia Bank, Submission 11, p 3.

[7]        Mr Henry Ergas, Concept Economics, Proof Committee Hansard, 14 April 2009, p  74.

[8]        Bills Digest, 17 March 2009, p 10.

[9]        Urban Taskforce Australia, Submission 1, p 1.

[10]      Westpac, Submission 14, p 1.

[11]      NAB, Submission 11, pp 1&2.

[12]      Property Council of Australia, Submission 6 p 4.

[13]      NAB, Submission 11, p 2.

[14]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p  11. A similar estimate of the recent fall in property prices was given by Dr Frank Gelber, BIS Shrapnel, Proof Committee Hansard, 14 April 2009, p 18.

[15]      Treasury, Submission 9, p  12.

[16]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 9.

[17]      Vision, Submission 4, p 2.

[18]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, pp 9&10, citing forecasts by Econtech and the Construction Forecasting Council, which take into account the stimulus package.

[19]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, pp 2&3.

[20]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 9.  For further information on the impact on the Vision Tower project, see The Hon Wayne Swan MP, House of Representatives Hansard, 18 March 2009, p 2098 and Louise Dodson and Robert Harley, 'It's all a bit rich', Australian Financial Review, 21‑22 March 2009.

[21]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 13.  Similarly, Dr Frank Gleber from BIS Shrapnel said ' a lot of projects are not proceeding for lack of funding'; Proof Committee Hansard, 14 April 2009, p 20.

[22]      Mr Harnisch, Master Builders' Association, Proof Committee Hansard, 14 April 2009, p 30.

[23]      Urban Development Institute of Australia, Submission 13, p 2.

[24]      Prime Minister, Media Release, 24 January 2009.

[25]      Treasury, Submission 9, p 13.

[26]      Concept Economics, Submission 10, p. 13.

[27]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 11.

[28]      ABC, The World Today, 28 January 2009, available at http://www.abc.net.au/worldtoday/content/2008/s2476285.htm

[29]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 10.

[30]      Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, pp 7-8.

[31]      Mr Peter Verwer, Property Council of Australia, Proof Committee Hansard, 14 April 2009, pp 2 and 8.

[32]      Mr Wilhelm Harnisch, Chief Executive, Master Builders' Association, Proof Committee Hansard, 14 April 2009, pp 30-31.

Chapter 4 - Criticisms

[1]        Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 12.

[2]        Mr Peter Verwer, CEO, Property Council of Australia, Proof Committee Hansard, 14 April 2009, p 9.

[3]        Mr Richard Murray, Executive Director, Treasury, Proof Committee Hansard, 14 April 2009, p 81.

[4]        Mr Richard Murray, Executive Director, Treasury, Proof Committee Hansard, 14 April 2009, p 81.

[5]        Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, pp 41-42.

[6]        Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, p 36.

[7]        The Hon Lindsay Tanner MP, House of Representatives Hansard, 12 March 2009, p 2502.

[8]        Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, p 45.

[9]        Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, p 40.

[10]      Concept Economics, Submission 10a, p 2.

[11]      Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, p 48.

[12]      Mr Henry Ergas, Concept Economics, Proof Committee Hansard, 14 April 2009, p 66.

[13]      Treasury, Submission 9, p 21.

[14]      Mr Brian Cassidy, CEO, ACCC, Proof Committee Hansard, 14 April 2009, p 54.

[15]      Mr Brian Cassidy, CEO, ACCC, Proof Committee Hansard, 14 April 2009, p 55.

[16]      Mr Brian Cassidy, CEO, ACCC, Proof Committee Hansard, 14 April 2009, p 56.

[17]      Mr Richard Murray, Treasury, Proof Committee Hansard, 14 April 2009, p 81.

[18]      Prime Minister, Media Release, 24 January 2009.

[19]      Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, p 48.

[20]      GE Capital Finance Australasia, Submission 2, p 2.

[21]      Mr Ahmed Fahour, Proof Committee Hansard, 14 April 2009, p 39.

Coalition Senators' Dissenting Report - Discussion of issues of concern

[1]        Concept Economics, Submission 10, p11.

[2]        Concept Economics, Submission 10, p12.

[3]        Concept Economics, Submission 10, p 7.

[4]        Concept Economics, Submission 10, p 7.

[5]        “Syndicated Lending”, RBA Bulletin, September 2005.

[6]        Concept Economics, Submission 10, p 12.

[7]        Mr Peter Verwer, Proof Committee Hansard, 14 April 2009, p 9.

[8]        Concept Economics, Submission 10a, p 1.

[9]        Mr Brian Cassidy, Proof Committee Hansard, 14 April 2009, p 56.

[10]      Mr Brian Cassidy, Proof Committee Hansard, 14 April 2009, p 55.

[11]      Mr Brian Cassidy, Proof Committee Hansard, 14 April 2009, p 55.

[12]      Mr Brian Cassidy, Proof Committee Hansard, 14 April 2009, p 57.

[13]      Mr Fahour, Proof Committee Hansard, 14 April 2009, p 49.

[14]      Mr Brian Cassidy, Proof Committee Hansard, 14 April 2009, p 57.

[15]      Mr Brian Cassidy, Proof Committee Hansard, 14 April 2009, p 59.

[16]      Mr Richard Murray, Proof Committee Hansard, 14 April 2009, p 82.

[17]      Mr Richard Murray, Proof Committee Hansard, 14 April 2009, p 82.

Minority Report by Senator Nick Xenophon

[1]        Proof Committee Hansard, 14 April 2009, p 11-12