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McGrath: Home buyer policy goes from sublime to ridiculous

If you thought Labor’s bid for government couldn’t get any more bonkers you would be gravely mistaken. With just one policy announcement the Labor campaign has evolved to a whole new level of economic barmy.

May 05, 2022, updated May 05, 2022

Anthony Albanese is now promising to get 10,000 Aussies a year their dream home. Sounds good right? Hmm… The only catch is that Labor’s plan will have Albanese putting a ‘For Sale’ sign on your front lawn when he so feels like it. The simple fact is that Labor’s ‘Help to Buy’ shared equity scheme is dangerous for Australian families and hopeful homeowners; here’s why.

The Government would effectively own 40% of your ‘family’ home. Upon inheritance, if children of the homeowners earn more than $90,000, they will not be eligible for the scheme and forced to either buy out the government’s equity in the home or Albanese will be putting a for sale sign on your front lawn.

Compare this to the coalition’s practical housing policies which have supported more than 300,000 Australians into home ownership. We have supported almost 60,000 first home buyers and single parent families into home ownership through the Home Guarantee Scheme with a deposit as little as 5 per cent or 2 per cent, respectively.

Yesterday we were treated with more of the same waffle from Jim Chalmers at the Treasurers’ debate where economic policy and a roadmap for Australia out of the pandemic was supposed to be front and centre. Alternatively, Treasurer Josh Frydenberg focused on delivering more jobs, tax relief for workers and small business and investing in strong defence, security and borders.

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We’ve seen how Labor’s Shadow Ministry run a protection racket to hide Albanese from media scrutiny. The most egregious example of this being in Tuesday’s press conference where Jason Clare was forced to step in and answer questions asked directly to Albanese.

When Labor promise you a home, they own it. When Labor promise to raise wages, they can’t say how they’ll do it. When Labor promise a Green future, Queenslanders lose their jobs and we can’t pay for the essential services we rely on such as Medicare.

The Government’s economic plan is helping families with cost of living pressures when they need it most. Labour’s senseless spending will only hurt you more. We can’t risk Albanese and Labor on May 21.

Queensland LNP  Senator James McGrath and his ALP counterpart Anthony Chisholm will bring an upper-house view to the election campaign every Thursday.

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