Peter Dutton promised to enable first-time home buyer to deduct mortgage interest payments form their taxable income. Labor pledged a $1,000 instant tax deduction for all households as well as a $10 billion pledge for new dwellings for first time buyers. Money ambitions putting concerns of the nations budget in uncertain economic times to the back seat.
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TVTranscript
00:00The fact both leaders went big on housing at their campaign launches today shows they
00:07understand this is a huge issue for voters. Peter Dutton's idea of tax-deductible mortgage
00:13repayments hasn't exactly won much praise from housing experts or economists. They much
00:19prefer measures to boost supply, like Labor's plan today. But this is about politics as
00:24much as policy. The coalition needs a campaign game-changer. Peter Dutton's
00:30hoping this housing pitch and his promise of a one-off tax break worth up
00:34to $1,200 will grab the attention of low and middle-income workers in the outer
00:39suburbs. Anthony Albanese has sweeteners of his own to offer including today's
00:44promise of a $1,000 instant tax deduction and his committed tax cut modest but
00:50ongoing for all. The remainder of this campaign will be a battle over
00:54hip-pocket help now running into the billions. Any concern over budget repair
01:00as Australia faces uncertain times ahead has taken a back seat.