David Smith (Bean, Australian Labor Party) Share this | Hansard source

What has become clear since the delivery of the budget is that those opposite have no desire to help our young people live the Australian dream by owning their own home. On this side of the House, we are reforming a tax system that, unlike what those opposite have claimed, has only acted to increase the cost of housing and done nothing to address its supply. When house prices have grown by 400 per cent since 1999, you know that reform is needed. That's why we're levelling the playing field. Combined with our five per cent deposit program, we're shifting the scales in favour of aspiring first homebuyers. In my electorate alone, over 2,200 first home buyers have accessed the five per cent deposit scheme. Alongside this, we are investing in projects to ensure that housing supply increases, including over $18 million into infrastructure in my community of Bean to unlock future housing, and we're extending the bans on foreign property investors buying existing homes.

On this side of the house, we have the courage to stand up for younger Australians and are proud to do so. We take no shame in backing in our future generations every opportunity we can.

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