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‘This is as Liberal as it gets’: Government’s plan to help first home buyers

The Federal Government is determined to help young people get into the housing market, with a new scheme set to help first home buyers.

Alan Jones has been championing the cause of young people looking to buy their first home for many years.

“You tell me how a 25 to 30-year-old,” says Alan,” paying off his HECS debt, paying rent, how he actually saves $100,000 for a deposit? He can’t.”

Federal Housing Minister Michael Sukkar tells Alan the government understands how hard it can be, and that’s why they’re actively working to help young people get into the housing market.

“It’s extraordinarily difficult… so I’m working on the first home loan deposits scheme.

“We’re going to guarantee loans for 10,000 first home buyers a year, which means they can buy a house with a 5 per cent deposit.”

Under the scheme, first home buyers with an income of up to $125,000 (or $200,000 for a couple) will be eligible for the deposit reduction from January 1 next year.

They will require only a 5 per cent deposit, rather than the usual 20 per cent.

But when Alan questions whether the policy sounds more like a Labor policy than a Liberal policy, the Minister insists housing is at the core of Liberal values.

“This is as Liberal as it gets. Robert Menzies, when he was founding our party, spoke more about home ownership than anything else. We are the party of home ownership.”

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