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Australia Votes 2007: Labor plan for home buyers

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'.

Sources

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

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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