FED: First home owner grant to boost market: Swan
03 Nov 2008 3:19 PMFED: First home owner grant to boost market: Swan
BRISBANE, Nov 3 AAP - The first home owner grant increase will help Australia's housing shortage and beef up the market, the federal government says.
"The global financial crisis is impacting upon business, it's impacting upon households," Treasurer Wayne Swan told reporters in Brisbane today.
"That's why we targeted our economic security strategy at households and weparticularly targeted that strategy at the housing sector to boost demand in the face of the global financial crisis.
"We acted decisively with our housing package to boost demand in the housing sector.
"It's a very important part of our national economy and we believe that theinitiatives that we put in ... will boost demand in that sector.
"There still is a shortage of housing for many Australians and we're going to boost this sector through the increase in the first home owner grant."
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