Jerome Laxale (Bennelong, Australian Labor Party) Share this | Link to this | Hansard source

On 1 October, every first home buyer will need only a five per cent deposit to get into their first home. That means years less saving and thousands of dollars saved on mortgage insurance. It's a real, practical step to help Australians into a home of their own sooner. We know this housing crisis is decades in the making and it won't be fixed overnight, but, unlike those opposite, we actually have a plan for progress. Our $43 billion plan is built on three pillars: making it easier to buy, making it better to rent and building more homes. Some would say, 'Build, baby, build.'

Help with housing is one of the reasons I made the switch from local government to federal parliament. I wanted to be a part of a federal government that acts on housing, compared to the Liberal Party, who are in denial about the scale of the crisis. While Labor invests in social and affordable housing, the Liberals teamed up with the Greens to block the Housing Australia Future Fund. While Labor has made it better to rent, the Liberals tried to abolish tax incentives responsible for 80,000 new rental properties. While Labor has reformed and cut student debt, the Liberals want young people to raid their super for a home.

It's only Labor that has a plan to address this crisis. Young people, you all should know that Labor has your back.