Julie Collins (Franklin, Australian Labor Party, Minister for Small Business) Share this | Hansard source

I want to thank the member for Macnamara for that important question. I know that the member for Macnamara has been a great supporter of Labor's housing agenda, and I thank him for his support last night for our Help to Buy shared-equity scheme, which passed the House last night. Help to Buy will support low- and middle-income Australians who are struggling to buy their own home save up to 40 per cent on their mortgage. Eligible participants will only need a two per cent deposit, and the government will support them with an equity stake of up to 40 per cent for new homes and up to 30 per cent for existing homes. This means a lower deposit and lower ongoing repayments for tens of thousands of Australians.

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