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Peter Dutton has lambasted the Albanese government over the state of housing following the budget release.
Leader of the Opposition, Peter Dutton, has released his response to the government’s third budget and claimed that mortgage holders are in a worse position under Labor.
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Dutton stated that the typical Australian household with a mortgage “is $35,000 worse off”.
“And that’s if you’re lucky enough to own a home,” he said.
“Under this Prime Minister, the great Australian dream of home ownership has turned into a nightmare. Even finding somewhere to rent is near impossible.”
What are his solutions?
In response, the Opposition Leader has outlined several initiatives that the Coalition government would introduce should it gain power again.
Through these measures, Dutton stated that the housing crisis will be met “head-on” by alleviating pressure in the market.
The Liberal leader proposed a two-year ban on foreign investors and temporary residents purchasing existing homes in Australia, along with reducing the permanent migration program by 25 per cent (from 185,000 to 140,000) over the first two years.
This would then increase to 150,000 in the third year and 160,000 in the fourth.
“We celebrate the contributions of migrants over many decades who have helped build the achievement of modern Australia,” he said.
“But by getting the migration policy settings right, the Coalition can free up more houses for Australians.”
According to Dutton, the Coalition would “ensure there are enough skilled and temporary skilled visas” for individuals with building and construction skills to support new home builds.
Additionally, Dutton has proposed a cap on foreign student numbers travelling to Australia to study in order to relieve rental market stress in the capitals and major cities.
“We will work with universities to set a cap on foreign students.
“And we will enhance the integrity of the student visa program by introducing a tiered approach to increasing the student visa application fee and applying it to foreign students who change providers,” Dutton said.
Furthermore, Dutton announced that the Coalition government would extend the value of assets eligible for the instant asset write-off to $30,000, with plans to make this “ongoing for small businesses”.
“This will simplify depreciation for millions of small businesses by cutting red tape, boosting investment in productive assets, lowering business costs and prices,” he said.
This would see the instant asset write-off increase by $10,000 on the current amount. The write-off scheme was already extended by the Albanese government by another year, now set to run until 30 June 2025.
[RELATED: What’s in the budget 2024–25?]
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