The Australian Financial Review --- Page: 3 : 5 February 2008 Original article by David Crowe
LexisNexis Summary
To soften the anticipated interest rate rise on 5 February 2008, the Australian Labor Party is expected to announce a new subsidy. Australian Treasurer, Wayne Swan, has commented on housing affordability, but directed growing interest rate concerns to the previous government. Equivalent to a 15 per cent discount on their marginal tax rate, the scheme for first home buyers will be capped at $A85,000. The Housing Industry Association helped devise the Labor policy in 2007.
