Queensland’s Opposition leader David Crisafulli has delivered his budget reply, vowing to axe stamp duty for some first home buyers should the LNP come into office.
Treasurer Cameron Dick handed down the state budget earlier this week, featuring a cash splash of $11.2 billion on cost-of-living relief ahead of the upcoming state election in October.
Mr Crisafulli responded to the budget on Thursday, proposing a series of bold policies in a bid to boost homeownership including a plan to scrap stamp duty for home buyers building their first property.
“We’re not just reducing tax for first home buyers chasing the great Australian dream, we are removing it, forever,” he told parliament.
“We want to get more Queenslanders into more homes and it’s a plan to increase supply.”
He took aim at the government, tearing into Labor for not doing “what mattered when it mattered” for Queenslanders.
“The government’s slogan for this budget is ‘Doing what matters’, yet they are now telling Queenslanders what they have done in the past no longer matters,” Mr Crisafulli said.
“The record shows this government did not do what mattered when it mattered. Queenslanders are paying for that fact today.”
Mr Crisafulli detailed the LNP’s “securing our housing foundations plan”, which he said would address the housing crisis “not just in the here and now, but for the next 20 years”.
“It’s bold, it’s big picture, but most importantly it’s a detailed plan that clearly outlines how we will achieve our targets and get more Queenslanders into more homes,” he told parliament.
“The LNP’s securing our housing foundations plan consists of six policy areas; a big boost into to homeownership, boost to buy, unlock the homes for Queensland’s future, open the door, homes with purpose and sixth breaking down the barriers to building.
“Our plan is unashamedly designed to increase housing supply and get more Queenslanders into more homes.”
Mr Crisafulli said the LNP will commit to Labor’s current stamp duty concession, which has a threshold of $700,000, for first home buyers purchasing existing houses.
He also revealed a $165 million shared-equity scheme to help close the deposit gap, assisting people who have at least two per cent of a home deposit put away in savings for a property up to the value of $750,000.
Under the scheme, which will initially be available for 1,000 property buyers, there will be a 25 per cent equity stake for existing properties and 30 per cent for new builds.
The Opposition Leader pledged to build one million houses by 2044, including 53,000 social and affordable homes, instead of the government’s current target of 2046.
Mr Crisafulli said cost of living was a “priority” for the LNP.
“We’re living through the steepest cost of living pressures in this country because of the failures of this government, but according to the government this doesn’t matter,” he said.
“Never have Queenslanders faced such major impacts to the hip pocket threatening their way of life, no matter where I visit across our state I spend time listening to people and the message is always the same, families are struggling.”