3 years ago
MORRISON FAILS TO EXPAND FIRST HOME LOAN DEPOSIT SCHEME
JASON CLARE MP
The Morrison Government has once again ignored Labor’s calls to expand the First Home Loan Deposit Scheme to help first home buyers build their first home and save the jobs of thousands of tradies.
The next round of the scheme opens today with 10,000 places for twelve months.
The scheme’s first 10,000 places were fully subscribed in five months and most of the assistance was provided to first home buyers purchasing existing homes.
Lifting the cap on new home builds makes sense. It will encourage more first homebuyers to build a new home, and that will help save the jobs of thousands of tradies and small mum and dad housing construction businesses that need more work.
It’s not just the Labor Party which has called for this. Others have warned the Federal Government that the housing construction industry is about to fall off a cliff and have called for an expansion of the First Home Loan Deposit Scheme, including:
The next round of the scheme opens today with 10,000 places for twelve months.
The scheme’s first 10,000 places were fully subscribed in five months and most of the assistance was provided to first home buyers purchasing existing homes.
Lifting the cap on new home builds makes sense. It will encourage more first homebuyers to build a new home, and that will help save the jobs of thousands of tradies and small mum and dad housing construction businesses that need more work.
It’s not just the Labor Party which has called for this. Others have warned the Federal Government that the housing construction industry is about to fall off a cliff and have called for an expansion of the First Home Loan Deposit Scheme, including:
- The Housing Industry Association;
- Master Builders Association; and
- The Urban Development Institute of Australia.
This is another missed opportunity by the Morrison Government.