How kids in NSW could soon own an account filled up by the government to help them pay for a house deposit years later: Here’s how it will work
- Dominic Perrottet made key election promise
- Children will receive money to invest in a house
Premier Dominic Perrottet has used a Liberal Party campaign launch to promise a major investment in the future of young people to help them buy a home.
If the Coalition wins the March 25 election, Mr Perrottet said the party would create a savings fund for all young people to spend on housing and education when they turn 18.
Mr Perrottet called it the most significant financial security investment in NSW history and said it would cost the government around $850 million.
‘This investment will change the lives of millions of children across our state … This is a down payment to secure the future dreams of our children,’ he said.
He was joined by Liberal party faithful and key candidates in Sydney’s southwestern suburbs for the party’s official campaign launch on Sunday.
Premier Dominic Perrottet has used a Liberal Party campaign launch to promise a major investment in the future of young people to help them buy a home
If it wins the next election, the Coalition will create savings funds for all young people to spend on housing and education when they turn 18
Under a Coalition government, every child currently aged 10 and under in 2023 in NSW, and every newborn thereafter, will receive a fund with a starting investment of $400, the father of seven announced.
Parents and carers can make additional payments of up to $1000 into the accounts which the government will match to the tune of up to $400 a year, resulting in savings of between $28,000 and $49,000, depending how additional savings are added.
Claiming to be the underdog in the the poll, the premier said it was his party’s responsible financial and economic management that would ‘keep NSW moving forward’.
‘I know that every single parent here today and across the state shares one thing in common and that is that from the moment our children are born we worry about them and would do anything to ensure that they have a better opportunity than we have,’ he said.
Mr Perrottet also announced a further $1.2 billion Investment in public schools, creating a $19 billion pipeline for new and upgraded schools.
The highest Liberal in the country, Peter Dutton, was notably absent from Sunday’s launch, but former prime minister, John Howard, 83, attended and received an enthusiastic standing ovation from the crowd.
Under a coalition government, every child currently aged 10 and under in 2023 in NSW, and every newborn thereafter, will receive a fund with a starting investment of $400, the father of seven announced
Labor on Sunday announced a plan to ease the cost of rising electricity bills for small businesses and NSW families and households under a proposed $485 million Energy Relief Fund.
Under the plan eligible NSW small businesses will receive $315 off their energy bill and when matched by funding from the Commonwealth government’s rebate scheme around 320,000 small businesses will get $630 off their bills.
The fund would also mean NSW households hit hard by energy price rises would receive $250 off their energy bill and when matched with $250 from the Commonwealth’s Energy Bill Relief Fund, around 1.6 million eligible households will get $500 off their bills.
Recent polling suggest NSW Labor is set to return to power for the first time since 2011.
The Resolve Political Monitor indicated a seven per cent swing to Labor giving the party the 47 seats necessary for a majority government.
Read more at DailyMail.co.uk