CANBERRA, ACT, Sept. 2 -- The Treasurer of Australia issued the following transcript:
Sarah Ferguson:
Treasurer, welcome.
Jim Chalmers:
Thanks very much, Sarah.
Ferguson:
On house prices first. At the Budget, Treasury said the impact from your tax changes would see house-price growth continue to rise, but by a bit less, 2percent over a couple of years. The Commonwealth Bank's latest forecast says prices will fall 10percent across the capital cities. Did Treasury underestimate the impact of your tax changes?
Chalmers:
Well, first of all, you're right to point out that the Treasury assumptions are over the next couple of years, not the past couple of months, and even that Commonwealth Bank forecast that you reference in your question ...