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PARLIAMENT UPDATE: 21-24th Oct. 2019
This week in Parliament, the Government has continued to deliver on our commitment to support first home buyers get into the property market sooner. We've now passed the legislation that establishes the First Home Loan Deposit Scheme, ensuring that it can commence from 1 January 2020, as promised.
Once up and running, it will mean first home buyers won't need to save a full 20 per cent deposit. Rather, they will be eligible to access a government-guaranteed loan meaning they will only need to save a 5 per cent deposit.
In Question Time, I spoke about the Government's strong and stable budget management and the steps we're taking to support first home buyers such as the First Home Loan Deposit Scheme, which builds on the work we've already undertaken in this area such as the First Home Super Saver Scheme.
Also this week, I caught up with the Australian Food and Grocery Council to discuss the Government's plans to improve the Food and Grocery Code of Conduct. Australians rightly expect fairness when it comes to the way our large supermarket chains do business with their suppliers. I want to ensure that the many family-owned companies behind the brands and products we use everyday are treated fairly by the major supermarkets.
As part of my role as Assistant Treasurer, I recently attended an APEC Finance Ministers' Meeting in Chile. This was an important opportunity to help foster key relationships in our region and to improve cooperation, trade and economic opportunities for Australia around the globe.
You can read transcripts or watch videos of my speeches in Parliament by either clicking on the articles below or by visiting www.michaelsukkar.com.au.
The Hon Michael Sukkar MP
Federal Member for Deakin
Minister for Housing & Assistant Treasurer