Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Bill to help young people into home ownership launched

25 November 2016

Bill to help young people into home ownership launched

The Green Party is launching a plan today to help people struggling with student loans get into their first home.

Green MP Gareth Hughes’s Student Loan Scheme First Home Repayment Diversion Bill was launched today, the latest in a series of Green Party policies to address the housing crisis.

“Many young people are struggling to get a house deposit together and we want to make it easier and faster for them to get a foot in the door,” said Green Party tertiary spokesperson Gareth Hughes

“Our Faster into Homes plan will allow students to defer paying back their student loan for a period to help them save for a first home. Under this innovative scheme, anyone who is earning over the repayment threshold of $19,000 could defer part or all of their mandatory 12% student loan repayment into a first home savings account.

“Combined with KiwiSaver, this would make a huge difference for young people who are struggling with low wage growth and rapidly rising house prices across the country. For example, a bachelor’s graduate on a median wage could save $18,000 after five years.

“National has made it increasingly harder for graduates to get into their first home by failing to act quickly to stop the housing crisis. To add insult to injury, the Government has also increased the student loan repayment threshold from 10 to 12%, halved the Government’s annual KiwiSaver contribution and removed the bonus incentive for lump sum student loan repayments.

“The Government are out of ideas for solving the housing crisis; this is one of many Green Party initiatives to make sure that all New Zealanders have access to warm, dry, affordable homes.

“Helping young people to buy a house will also create an incentive for them to remain in New Zealand to contribute to our economy and our communities,” said Mr Hughes.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Case For Nationalising Our Urban Bus Services

When it comes to funding and managing public transport, should local government or central government bear most of the responsibility for delivering a quality service? Ratepayers or taxpayers? Those basic questions re-surfaced yesterday, after the government announced its intention to scrap the Public Transport Operating Model (PTOM) imposed by the last National government in 2013. That model had required councils to use private contractors to run the buses, via a cut-throat competitive tendering process...


Privacy Commissioner: Public Input Sought To Inform Privacy Rules For Biometrics
Privacy Commissioner Michael Webster is encouraging New Zealanders to have their say on the use of biometric information in Aotearoa New Zealand... More>>

National: Food Prices Climb Taking Kiwis Backwards
Kiwi families continue to battle runaway food prices, National’s Finance spokesperson Nicola Willis says... More>>

Transport & Infrastructure: Have Your Say On The Future Of Inter-regional Passenger Rail In New Zealand

The Transport and Infrastructure Committee has opened an inquiry into the future of inter-regional passenger rail in New Zealand. The aim of the inquiry is to find out what the future could hold for inter-regional passenger rail... More>>

Government: Creating Sustainable Public Transport For All
Workers and public transport users are at the heart of the new Sustainable Public Transport Framework, Transport Minister Michael Wood announced today... More>>

Government: Tax Break To Boost Long-term Rental Supply
The Government is encouraging more long-term rental options by giving developers tax relief for as long as the homes are held as long-term rentals, the Housing Minister Megan Woods has announced... More>>

National: NZ Migrant Arrivals Hit Lowest Mark Since 1990s
Today’s net migration figures show that Labour has failed to deliver the desperately needed skilled migrants they promised, meaning labour shortages will persist into the future, National’s Immigration spokesperson Erica Stanford says... More>>




InfoPages News Channels