Federal package great news for Victorians

Premier John Brumby has welcomed today’s Federal Government’s $10.4 billion economic security strategy, saying it would assist new and first home buyers as well as stimulate job creation, investment and economic activity. “I proposed to Prime Minister Kevin Rudd a plan to not only fast-track infrastructure spending but also to give some relief to new and first home buyers and stimulate the housing market,” he said.


Mr Brumby said the $1.5 billion plan to assist new and first home buyers was a decisive move that would help stimulate the housing market. “What this means is that with the Federal Government’s new assistance, Victorians who enter into a newly constructed home contract from 14 October 2008 to 30 June 2009 will now get cash grants of up to $29,000 for regional areas or $26,000 for metropolitan areas, which is a significant contribution towards the cost,” he said.