VIC opposition plan to simulate new home builds comes as party rocked by internal disputes

ABC NEWS (Australia)

First home buyers would be able to buy a property worth up to $1 million and pay no stamp duty, under a plan by the Victorian opposition to attract younger voters and stimulate new homes builds. The Coalition is refusing to say how it will fund the scheme which will cost at least $1 billion to the budget. It’s a significant policy offering 18 months out from the state election but comes as the party continues to be riven by internal disputes.

Transcript

00:00The spotlight again on the Liberal Party's internal wars.

00:05I'm sorry, I didn't actually hear what you said in those glasses.

00:08Former leader John Pesudo has until Friday to pay $2.3 million in legal costs

00:13to fellow Liberal Moira Deeming or face bankruptcy and expulsion from Parliament.

00:18Should John be saved by the party?

00:21I'll try. I'm doing everything I possibly can.

00:23MPs desperate to know what the current leader Brad Batten is doing to avoid a by-election in Hawthorne.

00:29I've been working with John and Moira to ensure we can get a positive outcome moving forward.

00:32I hope John stays. I like him very much.

00:34We all want to see John Pesudo stay in Parliament. He's doing a fabulous job.

00:38First homebuyers the big winners, with stamp duty scrapped on homes up to $1 million.

00:43First homebuyers currently pay no stamp duty on homes worth $600,000,

00:47with a sliding scale of concessions to $750,000.

00:51The Coalition says its plan will help 17,000 people a year get into a home

00:56and will cost $1.09 billion over four years.

01:00It will be at least a $2 billion policy from the opposition.

01:04Again, these are numbers which the opposition has made up on the fly.

01:08They say just trust us.

01:09The Coalition has already pledged to scrap four other taxes

01:12that currently reap billions of dollars,

01:14but it's refusing to say how it will make up the shortfall.

01:17Under the Baton-led Liberal Nationalist Government,

01:20there's going to be a different set of priorities.

01:22What schools, what hospital services will they cut to pay for this commitment?

01:27They have to come clean.

01:28The Liberal Party has struggled to attract voters under 40 to its cause,

01:32and this policy is designed to convince them that it's a viable alternative.

01:36But experts warn it could drive the cost of housing up even further.

01:40There's a risk that that's inflationary,

01:42but as a policy overall this approach has been quite successful.

01:46It will give the industry a shot of confidence to get on

01:49with delivering much needed supply in Victoria.

01:52Where to build those homes is set to be a hot topic at the ballot box.

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