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Labor's $1.2 billion first home owners accounts a fiasco: Opposition.

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Senator Gary Humphries  Liberal Senator for the ACT 

Shadow Parliamentary Secretary for Families, Housing & Human Services,  Shadow Parliamentary Secretary for Citizenship    LABOR'S $1.2 BILLION FIRST HOME OWNERS ACCOUNTS A FIASCO:


Treasury documents have revealed that the Rudd/Gillard Government's First Home Saver Accounts announced in the 2008 budget have gone almost untouched despite Departmental advice to the Labor cabinet.  

Recent treasury advice to Cabinet reveals bluntly under the heading 'Impact on Housing Market': "No impact - no-one uses it."  

“This is another classic example of Labor’s chronic waste and mismanagement," Opposition housing spokesman Gary Humphries said today. 

Only 15,300 of the predicted 750,000 accounts have been opened and just $40 million or 5% of the money spent, leaving $1.1 billion. 

"Labor's response to making housing more affordable is to reign over a suite of policy fiascos." 

"Labor has failed to deal with housing affordability, house prices are up 20%, rents are sky high and there are 65% more people sleeping on the streets.” 

"Julia Gillard must explain why this failing scheme has continued to go on unchecked while people are struggling to deal with higher rents and mortgage repayments.” 

"Labor has sat on this failed scheme and failed to deliver for aspiring home buyers trying to get into the market. 

"Home insulation, BER, Green Loans, Grocery Choice, Fuel Watch, computers in schools, child care centres. Another day, another policy fiasco from Labor.”  

“Only a Coalition Government will end the waste, repay the debt, stop the taxes, stop the boats and help families,” Senator Humphries concluded. 

Media Contact is Josh Manuatu on 0421 115 365




[22 July 2010]