MASTER BUILDERS POLITICKING WON’T HELP FIRST HOME BUYERS

29 Oct 2018

Master Builders Association chief executive Denita Wawn should stop misrepresenting Labor’s plan to end the Coalition’s affordable housing crisis which is adversely impacting young Australians.

SENATOR THE HON DOUG CAMERON
SHADOW MINISTER FOR HOUSING AND HOMELESSNESS
SHADOW MINISTER FOR SKILLS, TAFE AND APPRENTICESHIPS
SENATOR FOR NEW SOUTH WALES

MASTER BUILDERS POLITICKING WON’T HELP FIRST HOME BUYERS
 

Master Builders Association chief executive Denita Wawn should stop misrepresenting Labor’s plan to end the Coalition’s affordable housing crisis which is adversely impacting young Australians.
 
Ms Wawn continued her misrepresentation of Labor’s policy this morning on ABC’s Weekend Breakfast, based on her organisations flawed analyses of the policy and contrary to the Treasury modelling.
 
Shadow Housing and Homelessness Minister, Doug Cameron, said the MBA’s baseless attacks on Labor’s housing policy were merely designed to support the desperate fear mongering of the Morrison Government.
 
“The MBA research does not accurately assess Labor’s policies and deliberately omits fundamental components such as the grandfathering clause,” Senator Cameron said.
 
“The reality is Australian home ownership has collapsed in recent decades, particularly for younger people, and it is threatening the fabric of our society and creating further inequality.
 
“Labor’s policies will prevent first home buyers from having to constantly compete with cashed up investors that receive the most generous housing tax concessions in the world.”
 
Senator Cameron said Labor’s reforms will reverse the decline in home ownership, deliver substantial savings to the budget and improve the tax system that currently encourages people to take on excessive amounts of debt.
 
“Our reforms will ensure young people don’t continue to be locked out of the housing market by investors buying their second, third or fourth properties,” Senator Cameron said.
 
“If the MBA really wanted to assist its members, rather than just propping up the Morrison Government,  it would be talking to Labor about how government, industry and the community housing sector can work together to solve the affordable housing crisis created by the Coalition.”

Labor will limit negative gearing to new housing from the start of the new policy after the next election. All investments made before this time will not be affected by this change and will be fully grandfathered.

Under Labor, the capital gains discount will be halved for all assets purchased. This will reduce the capital gains tax discount for assets that are held longer than 12 months from the current 50 per cent to 25 per cent.
A Shorten Labor government has also committed to:

  • Developing and implementing a national plan to reduce homelessness through the Council of Australian Governments
  • Providing $88 million over two years for a new Safe Housing Fund to increase transitional housing options for women and children escaping domestic and family violence, young people exiting out-of-home care and older women on low incomes who are at risk of homelessness
  • Reinstating both a Minister for Housing and Homelessness and the National Housing Supply Council

Labor has a suite of policies to combat rising homelessness and improve housing affordability, and will have more to say in the lead up to the election.
 
SUNDAY, 28 OCTOBER 2018
Authorised by Noah Carroll, ALP, Canberra