Empty Promise On Housing Will Crush Aspiration And Fuel Government Dependence
A controversial housing scheme is set to be debated in Canberra this week, as Australia’s housing and cost of living crisis reaches dangerous heights.
Federal Labor claim that their so-called Help to Buy scheme will allow up to 40,000 Australians to purchase their own home with a 2% deposit, in a shared-equity arrangement with the Federal Government.
Former builder, construction barrister, and Sunshine Coast MP Andrew Wallace said the proposal was another half-baked experiment in government overreach, failing to address the real issues preventing people –particularly young Australians – from purchasing their own home.
“We have a generation of young Australians who may never own their own home thanks to Labor’s housing and cost of living crisis and retrograde red-tape,” Mr Wallace said.
“Aspirational Australians can’t afford to put food on the table, let alone pay their rent, save for a deposit, and service a loan,” Mr Wallace continued.
“The Australian Dream of home ownership is slipping beyond the reach of many hardworking Australians, and Labor’s promise to co-own homes crushes aspiration and fuels big Government – and it’s young Australians who will pay the price,” Mr Wallace added.
Reflecting on his own time as a builder and barrister, Mr Wallace lamented what he described as Labor’s “reckless and ill-considered changes” to industrial relations, green-tape, and vocational education, including their plan to strip subcontractors of their independence.
“Labor’s so-called ‘Help to Buy’ proposal won’t help 40,000 Australians purchase a home any more than Labor was able to cut $275 from your power bills; it’s an empty promise and it’s dead in the water.”
“The fact is that you can’t increase housing supply if you don’t back builders, support subbies and protect Australian forestry,” Mr Wallace said, adding, “And while Labor dismantles the Coalition’s record-breaking training and apprenticeship framework, seeing a 37.4% decline in training starts, the future of vital skilled trades is on a knife’s edge.”
“What this Bill shows is the stark difference between Labor’s approach and the Coalition’s commonsense plan to empower Australians to own their own homes. We want to tame inflation, increase housing supply, and give hope to a generation of young aspirational Australians. Labor wants to strip Australians of the opportunity to forge their own path to financial independence.” Mr Wallace continued.
“They are simply giving up on a generation of young Australians.” Mr Wallace added.
The previous Coalition Government supported 300,000 Australians in realising the Australian dream of home ownership thanks to initiatives like HomeBuilder, the First Home Super Saver Scheme, and the Home Guarantee Schemes. Young Australians and single mums and dads were the able to access home ownership aer 6 years of Labor’s cynicism.
The Coalition has commied to retaining their Super Home Buyer Scheme which would allow Australians to access their superannuation to shore up their retirement by purchasing a home.
“You would think that Labor would continue supporting programs that work. They talk the talk, but we delivered – and given the opportunity, we will deliver again,” Mr Wallace said.
“The fact is that Australians always pay more under Labor – and it will take a Coalition Government to salvage the Australian dream,” Mr Wallace said.
