Fed: time running out for promised home grant extension - Latham

AAP General News (Australia)
12-16-2001
Fed: time running out for promised home grant extension - Latham

Labor says the federal government is running out of time to guarantee payment of its
$14,000 first home owner grant to thousands of home buyers.

Opposition housing spokesman MARK LATHAM says the grant will be cut to $10,000 on January 1.

He says home buyers hoping to qualify for the $14,000 payment have been waiting for
the government to honour its election commitment to extend the building commencement period
from 16 to 26 weeks.

Without this extension, building companies are unlikely to exchange contracts before
January 1, thereby reducing the size of the grant by $4,000.

Mr LATHAM says it's a deliberate attempt by Treasurer PETER COSTELLO to reduce the
cost of the scheme and to ease the blow-out in the government's budgetary position.

AAP RTV dep/jmt

KEYWORD: HOME (CANBERRA)

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