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press release■ THE HON. PHILLIP LYNCH, M.P. IMKL a b o r 's p ro p o sed $900 's a v in g ' on hom e finance is a cheap frau d , theD eputy L e a d e r of the O pposition, M r. P h illip Lynch, sa id in R ockham pton today."M r. Johnson h as c o n triv e d to give the im p re s s io n th a t all people paying off a hom e w ill re c e iv e $900 fro m L a b o r's th re e housing p ro p o sa ls."T h is is a d e lib e ra te m is re p re s e n ta tio n ." if it was tru e , it would c o st o v e r $ 1 ,3 0 0 m illio n ."in any c a s e , the in c re a s e in in te r e s t r a te s under L ab o r have c o s t m o re than L a b o r's p ro p o sed m o rtg a g e sc h em e will sa v e ."L a b o r is taking with one hand and giving back le s s with the o th e r . U nder L ab o r in te r e s t r a t e s w ill go s till h ig h e r."U nder L ab o r the d ep o sit gap h a s w idened. A cco rd in g to in d u s tria l s o u rc e s , it is v irtu a lly im p o ssib le fo r som eone on le s s th an $8, 000 to obtain su fficien t finance to buy a hom e." T h e re w ere only elev en a ctu al w orking days in the V ic to ria n building in d u stry d uring A p ril and th ro u g h s trik e s and m a te ria l s h o rta g e s , con stru ctio n , tim e h as in c re a s e d fro m th r e e m onths to eight m onths fo r the a v e ra g e hom e."T h is h a s had a sta g g e rin g im p a ct on hom e p u rc h a se c o s ts ..by 15% B uilding a p p ro v als have dropped' and hom e lo an s w ere down by a fu rth e r 23% on la te s t fig u re s . The housing c r i s i s w ill w o rsen u n le ss effectiv e action is tak en on a ll fro n ts ."New p o lic ie s, new in itia tiv e s and a new G ov ern m en t a re u rg en tly needed to undo the dam age th a t L ab o r has done. "May 8, 1974.