Labor’s housing policy is ‘extremely dangerous’

Sky News presenter Chris Smith says potential homeowners need a “hand up, not a handout.”

Labor announced a new shared equity initiative at the launch of the party’s campaign on Sunday, where eligible participants will receive a commonwealth contribution of up to 40 percent towards the purchase of a new home and 30 percent towards an existing home.

“A Labor government would help Australians enter the market by taking responsibility for 40 per cent of their mortgage. It’s a shared share capital scheme,” said Mr. Smith.

“So for those who can’t save enough, can’t afford the full mortgage, and don’t lower their expectations, they are supported by the taxpayer.

“How can you teach a generation that this approach to saving and sacrificing is no longer necessary?

“It is an extremely dangerous policy, which can also expose the government to debt.”

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