Basem Abdo (Calwell, Australian Labor Party) Share this | Link to this | Hansard source

I'm incredibly proud to be part of a government that is determined to take real action with the cost of living, and one of the biggest cost-of-living factors facing Australians and those in my community is the cost of housing and owning your own home. That's why Labor's five per cent home owners guarantee is so important, and it's why the program is going to be extended to all first home buyers.

My community understands the value of housing—not just the dollar figures but the value it provides for families, the sense of purpose, the sense of security and the sense of place. With this reform, we are telling first home buyers: 'The Albanese Labor government is on your side. We will cut the years you need to save. We will stop you from being penalised with costly lenders mortgage insurance. We will help you move from renting to owning sooner.'

This is fairness. This is aspiration. This is Labor making the Australian dream of home ownership real again. It is about turning rent payments into mortgage payments so that people who are building equity in their own home can secure their futures. The Albanese Labor government is doing what good governments should do, and my community has already shown that our policies can transform lives. Calwell has the fifth highest take-up rate of any electorate in the country under the home owners guarantee scheme. It shows that Labor and this government, the Albanese Labor government, understand the circumstances and aspirations of working Australians in Calwell and right across Australia.