Election 2013 Western Australia March 9

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iT Matters Home Ownership

Are WA Governments Using Keystart to Milk Home Battlers

Keystart the government that provides funding to struggling people to enter the housing market is making millions from it business activities.

Profits are ending up in Housing and Treasury hidden amongst the fine print.

'Once upon a time' Keystart the Western Australian government entity providing mortgages to allow WA people to enter the ever increasing and difficult housing market would produce an Annual Report of its activities.

How much does it contribute? well that is nearly impossible to verify.

In Hearings Housing Minister Buswell, at the time, with J Coles reported for 2010/11 the dividend was $25 million, with 2012/13 expecting $40.8 million in dividends, rising in 2015/16  to expecting $87million from Keystart.

With the Keystart body allowed to borrow up to $4.5b the transactions are very substantial.

Annual Reports stopped around 2006 when Michelle Roberts was Housing Minister and Labor was in government.

Following the Liberal government election in 2008 no re-instatement has been made by Troy Buswell who has been Minister for a majority of the period.

Colin Barnett in the 2008 election campaign promised the following commitments:

1. Better Government

2. No avoiding scrutiny, as accused labor of such.

3. Not to take people for granted.

4. Open and accountable government, and accused Labor of hiding matters.

5. Said 'WA deserved better'.

Huge monetary transactions like this need openness and transparency and the Liberals have not demonstrated this in ensuring a quality Annual Report by the Government body in control of billions of $dollars is produced and made publicly available.

The recent lessons of Peel Health, and past mistakes, should be used to minimise the risk of problems occurring in new areas.

The #wa2013vote website will be kept online so politicians promises and statements can be checked until the end of next WA election in 2017, and after.