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Howard's extreme IR changes to make home ownership even harder for working families.



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LEADER OF THE OPPOSITION THE HON KIM C BEAZLEY MP

22 August 2005

HOWARD’S EXTREME IR CHANGES TO MAKE HOME OWNERSHIP EVEN HARDER FOR WORKING FAMILIES

John Howard’s plan to scrap overtime rates and make employees easier to sack will make it even harder for Australian families to enter the housing market and pay their mortgages.

The latest Housing Industry Association housing affordability figures show that it is getting tougher and tougher for Australians to own their home.

The Housing Industry Association’s figures show that Brisbane is now the second least affordable city to buy a housing and land package. Queensland housing affordability outside Brisbane dropped a further 1.9% in the June quarter.

In the face of rising housing costs, John Howard wants to attack people’s ability to pay their mortgages.

By allowing penalty rates to be stripped out of employees' pay, these changes could make it even harder for families to get a home of their own.

In Queensland, it's estimated that around 550,000 employees regularly work overtime, on average, just over 6 hours per week - adding $196 to their monthly paypacket.

Many Queensland families rely on their penalty rates to pay the mortgage. It does not make sense to put them at risk.

And a $196 cut in monthly pay would be the same as putting up interest rates by 1.35 per cent on the average Queensland mortgage of $217,000.

John Howard is pushing Australia down the low wage, low skills road to compete with China and India. He is so out of touch he does not understand that families need extra overtime payments to pay their home loans.

John Howard’s extreme industrial relations changes threaten the way of life that Queensland families cherish.

Contact: George Svigos: 0417 196 836

22 August 2005