The Canberra Liberals’ latest election promise will see first home buyers save $25,000 when purchasing a block of land next year, if they win government this weekend.
The commitment pledges the grant to blocks purchased through the Suburban Land Agency in 2021 and is “conservatively” costed at $10 million.
“The cost is going to depend on how many people take up this scheme,” said Canberra Liberals leader Alistair Coe.
“In many respects, I hope it is very successful and many people, many young Canberra families draw on this grant and this creates many jobs and opportunity here in Canberra.
“We will conservatively base it on 400 households taking up this option. That would be $25,000 each, therefore $10 million.”
The Canberra Liberals have also stated their commitment to current stamp duty concessions in the ACT, which see first home buyers relieved of the tax if purchasing a new build of less than $470,000.
The policy will come into effect as the Federal Government’s HomeBuilder scheme wraps up on 31 December 2020.
Mr Coe said today’s announcement was in line with the Canberra Liberals promise to make Canberra a more affordable city.
“Stamp duty is of course not a good tax, but what we will not be doing is shifting stamp duty revenue onto rates,” he said.
“We think it’s right that young Canberrans that grow up in this city have the opportunity to buy a house in this city.”
Voting for the 2020 ACT Legislative Assembly election concludes this Saturday 17 October, and Mr Coe said Canberrans have two ways forward.
“This election is going to be close and it’s a very clear choice, with the old and tired Labor way that is driving up the cost of living,” he said, “or it is the Canberra Liberals’ fresh addition for a more affordable city, where people can actually afford to buy a home.”
However, the party has been criticised for its lack of policy costings submitted to ACT Treasury during the election period, to which Mr Coe said there were more to come.
“We have already submitted dozens of policies for costing, there are more to be submitted,” Mr Coe said.
“The policy offering we have on the table is very clear; it’s one that is about making the ACT the best place to live, work and raise a family.
“I have already made it very clear what the costs are and we will continue to submit the policies to Treasury as we have been doing.”