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Speers asks for what evidence Collins is referring to. The minister points to research by Graeme Smauls, former boss of the ACCC, which she referred to in parliament this week and again reiterates the talking point:
The overwhelming evidence suggests that it doesn’t work. States and territories will do their own things in terms of this. What we are being asked to do here is have eight different jurisdictions make these decisions at the same time and we have been told very clearly from those jurisdictions that they won’t be doing this. Some states have already ruled out both freezes and caps. What we’ve been asked to do is simply not achievable and we won’t commit to something that is not achievable, David.
When you look at the evidence that has been cited by others, the evidence shows that it reduces supply significantly by up to 15%. The other thing that it shows is the quality of the stock diminishes over time, so I will look at the data and the evidence and the data and the evidence says that it doesn’t work.
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