KEYSTART LOANS
417. Hon PETER COLLIER to the minister representing the
Treasurer:
I refer to the government's
decision to increase Keystart's existing income limits by $15 000 for
singles and couples, and by $20 000 for families from 1 July 2019 to 31
December 2019.
(1) Did Keystart or the Department of Treasury
undertake any modelling on the impact of this policy decision?
(2) If yes to
(1), what is the increase in the number of people who will be able to access
Keystart loans as a result of this decision?
(3) What is the
expected increase in Keystart's borrowings as a result of this policy
decision?
(4) What is the
expected number of increased dwellings that will be built as a result of this
policy decision?
(5) Why did the
government increase the income limits for only a six-month period?
Hon
STEPHEN DAWSON replied:
I thank the
honourable Leader of the Opposition for some notice of the question.
(1) Yes.
(2) It is
estimated that an additional 350 to 400 loans will be issued by Keystart as a result
of this decision. Industry figures have suggested there could potentially be as
many as 500 to 600 additional homes purchased.
(3) The expected
increase is $50 million.
(4) It is
estimated that an additional 250 to 300 new homes will be built as a result of
this decision. Industry figures have suggested there could potentially be as
many as 400 to 500 new homes built.
(5) It was to
provide an immediate and targeted stimulus to the housing construction sector.
It has been noted by the housing construction industry that the shadow
Treasurer is actively discouraging potential homebuyers from taking up this
offer.