Kevin Rudd can hold all the summits he likes, but the real risk Australians need to consider is if an elected Labor/union government runs the economy like they did last time, owning a home will be beyond the reach of the majority of Australians.
“Kevin Rudd wants Australians to forget that last time Labor ran the economy, interest rates peaked at 17%. If interest rates again ballooned under a Rudd/union partnership, home owners with a mortgage will be asking themselves where they will find the extra income every month,” Minister for Revenue and Assistant Treasurer said today.
“As a result of the Howard Government’s strong economic management, Australians are paying $470 less per month on an average mortgage than they were under Labor in 1996.”
“If a Rudd/union government is elected, these savings will all be put at risk.”
“Further to this, Mr Rudd’s call for yet another summit, shows he has no understanding of the fundamental reason behind the housing affordability crisis – the State Government’s mismanagement of the provision of land. For young families, the the cost of buying land has gone up enormously due to a lack of supply.”
“Mr Rudd should pressure his State colleagues to release more land and abandon the practice of loading development costs onto developers and homebuyers.”
“In addition, Mr Rudd should be calling on his State colleagues to reduce the burden of stamp duty on the purchase of homes.”
“In 2005-06 State Governments across the country collected around $11 billion in stamp duties alone. In 2001 the figure was half that amount.”
“If Mr Rudd were serious about helping young Australian families into a home, he should do something practical and not continue with these flimsy political stunts.”