Australia news live: Albanese hopes China’s possible BHP iron ore blockade ‘very much short term’; police find footprint in search for missing boy
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Clare O’Neil notes Treasury has advised the government scheme will push up home prices by 0.5% over six years.
Guardian Australia’s Luca Ittimani wrote an explainer on the new plan, and experts’ concerns with that estimate, below:
They’ve spent the last three years trying to slow our government down and stop us from providing supports to Australians who are struggling. Now, I say out of touch because if you think, firstly, that billionaires’ children are going to be using this scheme, then you haven’t looked very hard at it.
We’ve got probably people listening right now who are on reasonable incomes but are paying high rents and are not in a position to save for a home deposit. This is for them. This is for every single young person around the country who’s struggling to get those savings together.
