Politics Live: October 21, 2015

Okay then - time to wrap up. What happened?

• the government and opposition have reached agreement on the China Australia free trade agreement;
• both sides compromised a little bit for the sake of the country's future;
• the government has also announced new changes to family tax payments to replace the ones it could not get through the Senate;
• however it has been unable to say how many people will be better off or worse off under the changes; and
• former treasurer Joe Hockey has given his valedictory speech to Parliament.

Once again I thank Andrew Meares and Alex Ellinghausen for their super work and you for reading and commenting.

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Roll on Thursday, I say, when Alex, Andrew and I will be back. Until then, good night.

Eagle eyed observers of Mr Hockey's speech this morning were wondering where Foreign Minister Julie Bishop was.

Ms Bishop missed some of Mr Hockey's speech because she had a meeting to discuss counter terrorism measures on the Middle East. But she went to the chamber as soon as she could, a spokeswoman for the Foreign Minister assured political correspondent James Massola.

Foreign Affairs Minister Julie Bishop with Joe Hockey after his valedictory speech on Wednesday.Credit: Andrew Meares

It is pretty hard to work out who will be better off and who will be left worse off if the government's changes to family payments come in.

The chief executive officer of the Australian Council of Social Service, Cassandra Goldie, says vulnerable people will be hit hard.

"On our numbers a low income single parent family with two children will take a hit of more than $60 per week, or $3000 per year over time, once their youngest child turns 13....We cannot support this."

Mr Porter is asked about some of the ideas raised by former treasurer Joe Hockey in his valedictory speech this morning.

He pauses before saying: "People are very liberal in terms of a valedictory speech."

"The instinct is correct, we must return to surplus."

Mr Porter is asked when the details of the childcare changes (which are supposed to start in July 17) will be available.

"We want to know that we can pay for it," Mr Porter says.

Social Services Minister Christian Porter is speaking to Sky News about the changes to family tax payments.

Mr Porter is asked if the government's message to parents is that they should be working.

"I think that this is measure that encourages them to make that choice for themselves," Mr Porter said.

Australia's top economic bureaucrat says he is not concerned about any housing bubbles in Sydney or Melbourne bursting and causing severe financial instability because there has been a healthy increase in supply in recent months.

Treasury secretary John Fraser told a Senate committee this morning that he is not concerned about possible sharp falls in prices, despite warning of a housing bubble a few months ago.

Economics correspondent Gareth Hutchens has more.

Today's question time picture gallery is now available.

And that's it for question time.

The empty seats of Liberal MPs Joe Hockey and Tony Abbott during question time on Wednesday.Credit: Alex Ellinghausen

Just to explain that because it is an interesting question from Labor MP Clare O'Neil.

If the plebiscite is successful then Parliament still has to legislate and vote on marriage equality.

What the opposition wants to know is whether Coalition MPs (who are now not bound on the issue) would be directed to vote in accordance with the plebiscite's outcome.

Labor MPs Terri Butler and Clare O'Neil in question time on Wednesday.Credit: Andrew Meares