Australia Votes 2007: Labor plan for home buyers

From Wikinews, the free news source you can write!
Jump to navigation Jump to search

Sunday, November 4, 2007

Kevin Rudd, Australia's Leader of the Opposition has promised a special home buyers' bank account with tax concessions if Labor is elected on November 24.

Mr Rudd says AU$64,000 could be saved by a couple on the average wage over five years. The plan would cost the Government $600 million dollars.

The Housing Industry Association has welcomed the announcement but says it would be a start and would "avoid a stampede of first home buyers into the market."

Prime Minister John Howard is bracing himself for a possible Wednesday interest rate rise which may decide the election. Howard has defended the rumours, saying that some rise would be 'unavoidable'.


Wikinews Australia has in-depth coverage of this issue: Election 2007