[Greens-Media] Time to take more action on home loans

[Kerrie Tucker]

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MEDIA RELEASE Kerrie Tucker Greens Senate candidate for the ACT
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Time to take more action on home loans

Kerrie Tucker ACT Greens Senate candidate responded to Kevin Rudd’s 
housing summit with a call for action including regulation of 
'sub-prime' lenders.

“If Mr Rudd is to distinguish himself in any meaningful way from Mr 
Howard on the issue of affordable housing he must now commit to real 
action” Ms Tucker said today.

“Deregulation of the financial system has enabled new non-deposit taking 
lenders, or sub–prime lenders, to take on a growing share of the market.”

“This has resulted in a serious decline of consumer protection which is 
seen to have contributed to the explosion in home prices and the growing 
number of people unable to meet their mortgage debts.”

“We need to see

     * regulation which ensures first homebuyer grants and shared 
equity schemes are linked to good lending standards
     * Commonwealth regulation of consumer credit
     * Commonwealth legislation for mortgage and finance brokers
     * all credit providers and brokers to be members of an ASIC 
accredited dispute service.”

“I welcome the Opposition Leader's promise to review Capital Gains Tax, 
however that review needs to encompass all existing subsidies and 
incentives for housing and property investment, including negative 
gearing and the first home buyers grant.”

“Furthermore, more land releases will not affect the affordability 
problem until the economic signals change to stimulate investment in 
affordable and energy efficient housing including in regional areas" Ms 
Tucker said.


Media contact

Kerrie Tucker    042 999 1623
Roland Manderson 041 224 1379


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ACT Greens 8-10 Hobart Pl Canberra City ACT 2601
ph 62476305  www.kerrietucker.org.au