Anthony Albanese

Help for first home buyers: What Anthony Albanese as prime minister means for YOU

PHOTO: Australia is in for a radical, big-spending change in direction as Anthony Albanese is swept to power with a mandate to bring in dozens of very different policies.

  • Prime minister-elect faces surging inflation, prospect of more interest rate rises 
  • He will keep the Liberal Party’s tax cuts for the very rich known as stage three
  • New PM vowed to make equal opportunity for women an economic priority 
  • He also have big spending programs on childcare, TAFE and aged care nurses
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The prime minister-elect defeated Scott Morrison to become only the fourth Labor leader to win government from opposition since World War II.

Labor triumphed in several wealthy, inner-city seats – including some it hadn’t held before, by campaigning on climate change and introducing a federal corruption watchdog.

Mr Albanese won a comfortable election victory mostly by keeping a small target and letting Mr Morrison grow unpopular with voters.

However, there are still significant policy differences that are now set to become law, ranging from help for first home buyers to changes to childcare subsidies – even as government debt exceeds $1 trillion and inflation climbs.

Anthony Albanese vanquished Scott Morrison to become only the fourth Labor leader to win government from opposition since World War II

Anthony Albanese vanquished Scott Morrison to become only the fourth Labor leader to win government from opposition since World War II 

Perhaps the most prominent of Mr Albanese's plans is pledge to lobby the Fair Work Commission to raise the minimum wage by more than the 5.1 per cent inflation rate

Perhaps the most prominent of Mr Albanese’s plans is pledge to lobby the Fair Work Commission to raise the minimum wage by more than the 5.1 per cent inflation rate

There is also a plan to force companies to reveal how much they pay men and women, and pledge to lobby the Fair Work Commission to raise the minimum wage by more than the 5.1 per cent inflation rate.

Other key policies include help free TAFE places, greener energy and introducing an indigenous voice in Parliament, in line with the Uluru Statement from the Heart.

Mr Albanese revealed the full costings of his policy plans just two days before the election, announcing his government would deliver a deficit $7.4 billion bigger than the Coalition with a raft of bigger spending policies.

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‘I have shared the true principles that will drive the government that I lead,’ Mr Albanese said in his victory speech.

‘No one left behind because we should always look after the disadvantaged and the vulnerable.’

Mr Albanese’s victory over Mr Morrison and the Liberal Party means his policies will now become reality – so long as he can get them through the new Senate.

Below, Daily Mail Australia takes a look at the prime minister-elect’s vision for the future of Australia – and the major policies he will be focusing upon.

Labor has proposed a 'help to buy' scheme which would see the government take a 40 per cent stake in up to 10,000 homes a year to help people earning less than $90,000 on to the property ladder (pictured is an auction in Melbourne)

Labor has proposed a ‘help to buy’ scheme which would see the government take a 40 per cent stake in up to 10,000 homes a year to help people earning less than $90,000 on to the property ladder (pictured is an auction in Melbourne)

 

Help for first homebuyers

Labor will introduce a ‘Help to Buy’ scheme where the government would take a 40 per cent stake in up to 10,000 homes a year to help people earning less than $90,000 on to the property ladder.

Mr Albanese will also create a $10 billion Housing Australia Future Fund to build 30,000 new social and affordable housing properties in its first five years.

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