First Home Loan Deposit Scheme Passes the Parliament with Labor’s Amendments


Labor welcomes the passage through the Parliament of the First Home Loan Deposit Scheme.

This legislation passed with Labor’s support, following an amendment to see a review of the scheme in 12 months.

The review will be important to ensure the new scheme delivers on the Government’s promise to increase the number of first home buyers.

It will also closely examine details of the scheme – such as the effectiveness of deposit guarantee levels and the number of buyers benefiting from the scheme.

We need to make sure this initiative helps those Australians who are working hard in the face of flat wages growth to save and buy a home.

The Opposition will be closely watching the Government’s roll out of the scheme to ensure it meets that objective.

Labor appreciates the Government’s willingness to support the Opposition’s amendment to ensure the scheme is reviewed in a timely manner.

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