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The Opposition Leader has outlined measures the Coalition government would take to improve housing affordability in its budget reply.
Opposition Leader Peter Dutton has outlined a range of measures that a Coalition government would take to tackle housing affordability challenges as part of the party’s official response to the federal budget.
Speaking on Thursday (27 March), prior to the Prime Minister’s election date announcement, Dutton’s budget reply reaffirmed the Coalition’s previously announced policy to let first home buyers access $50,000 of their own super to put towards a home deposit.
Dutton said a Coalition government would also move to cut the permanent migration by 25 per cent and set “stricter caps” on the number of foreign students in Australia to “relieve stress on rental markets”.
In terms of foreign investors, the Coalition was in lockstep with the government, committing to a two-year ban on foreign investors and temporary residents from purchasing existing homes in Australia.
Dutton also said a Coalition government would invest $5 billion in “essential infrastructure” to “get stalled housing projects up and going”, adding this funding would contribute to the creation of 500,000 new homes.
“I don’t want young Australians locked out of the property market – or having to rely on the bank of mum and dad,” Dutton said.
“I want to see fewer Australians homeless and more Australians in homes.”
SME measures
Dutton also reaffirmed several measures for small and medium-sized enterprises (SMES), including making the instant asset write-off scheme permanent and extending the threshold to $30,000, as previously announced.
By comparison, the Labor government hasn’t committed to extending the policy in its current form beyond 30 June 2025, which would see the threshold for deductions revert to $1,000 in the new fiscal year.
A Coalition government would also set a target of 400,000 apprentices and trainees across Australia, providing small and medium-sized businesses with $12,000 to support them to put on a new apprentice or trainee in critical skills areas for the first two years of training.
“I want small businesses to be taking risks, calculated risks – not shutting up shop,” Dutton said.
What’s next?
With Australians due to head to the polls on 3 May, both sides of politics will have plenty to say on housing affordability and business measures over what will be a five-week election campaign.
Opinion polls predict a slim margin between the two parties and Prime Minister Anthony Albanese noted the gravity of this election when speaking to the media on Friday (28 March).
“Now on May 3, you choose the way forward,” Albanese said.
“Your vote has never been more important. And your choice has never been more clear.”
[Related: PM sets date for May election]
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