Source: Prime Minister of Australia
LIBBY COKER MP, MEMBER FOR CORANGAMITE: So thank you very much for being with us today. It is a very exciting day. I am thrilled to have my boss and the Prime Minister of the country, Anthony Albanese, with us today. We also have Brooklyn and Lachie and Rosco, and we’re here today because we want to actually celebrate and encourage people to take up 5% first home buyer deposit scheme. This has been an amazing scheme. Lots of people in my community of Corangamite are taking up this opportunity, not just here, though, but across Australia, because we know how important it is to have a roof over your head, and as you’ve said, Lachie, to invest in your future rather than someone else’s, so this is amazing. And I’d like to hand over to Anthony to speak.
< ANTHONY ALBANESE, PRIME MINISTER: T
But we know as well, we need to do more. Which is why in the Budget in May we’ve made changes for property investment arrangements, and that’s about enabling more young Australians to get into their first home as well. So that last Saturday, when young home buyers turned up at options, they weren’t competing with investors if it was an existing property. So it meant that they get a fair crack, because if you have investors competing with first home buyers, and investors know if they bid an extra $20,000 for a home, then that will be an increase in their tax deductions they’re able to make through negative gearing. Then it’s not a fair system, and that’s why we are making these practical changes to make a difference. But in addition, of course, we’re grandfathering the measures that are put forward, so that people who’ve made existing arrangements aren’t impacted can continue to negatively gear properties, but as well, for future, if you want to invest in a negatively geared property, you can do so, but it’s got to be a new build. So you’re building not just assets and wealth for yourself, you’re building assets and wealth for the nation as well, making a difference for housing supply. We estimate these changes will mean 75,000 additional first home buyers get into the market on top of the measures that we’ve taken place with the 5% deposit scheme. So I do want to thank Brooklyn and Lachie for welcoming us into their beautiful new home, where they’ve been living just for a period of months as a result of our scheme. It gives me a great deal of pride to know that my government’s prepared to make difficult decisions, but the right decisions in the national interest. Not just sit back and say it’s all too hard, and we’re going to watch home ownership be something that’s talked about, but as something that’s a historical fact. We want it to be a reality for people today, and that’s why we’re prepared to make these changes. And why our comprehensive plan for increased supply, increased public housing, increased private rentals, increased home ownership is going to make a substantial difference to the way that the country functions as we go forward. Happy to take some questions.
< JOURNALIST
< PRIME MINISTER:
< COKER
< JOURNALIST
< PRIME MINISTER
< JOURNALIST
< PRIME MINISTER:
< JOURNALIST
< PRIME MINISTER:
< JOURNALIST
< PRIME MINISTER:
< JOURNALIST
< PRIME MINISTER
< COKER
< JOURNALIST
< LIBBY COKERMP
< JOURNALIST
< PRIME MINISTER
< JOURNALIST
< PRIME MINISTER: