Prime Minister Anthony Albanese is promising a big boost for first home buyers, allowing them to enter the market with just a five percent deposit, as part of a ten-billion-dollar housing pitch. The policy will form the centrepiece of Labor’s campaign launch in Perth today, as Mr Albanese highlights how his party plans to ease cost-of-living pressures, if re-elected.
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00:00Perth is where Labor launched its election campaign in 2022, also with a centrepiece
00:08housing announcement. And today, Prime Minister Anthony Albanese will be looking to recreate
00:13history, hoping WA once again helps deliver him the keys to the Lodge.
00:18Western Australia is a key focus for both parties and at the last election, winning
00:23a swag of seats in the West meant Labor could govern in its own right. Today, Anthony Albanese
00:29will unveil a $10 billion housing package, a cost of living pitch aimed at courting young
00:35Australians. Under the plan, 100,000 homes would be built and earmarked for first home
00:41buyers. Labor would also guarantee a portion of a first home buyer's home loan, so anyone
00:47could buy a home with just a 5% deposit, without having to take out mortgage lender's insurance.
00:53Anthony Albanese has staked a lot on the West, in particular, the shelving of environmental
00:57policies WA Premier Roger Cook wasn't in support of. And that hasn't been without consequences
01:03in urban electorates on the East Coast. But the Prime Minister has been buoyed by Labor's
01:08convincing victory in last month's state election, and hopes it puts the party in a strong position
01:14to hold on to all of its federal seats come May the 3rd.