Sunday, November 4, 2007

Rudd's tax break for home buyers

KEVIN Rudd has promised to set up special bank accounts to help first home buyers save for a deposit, offering tax breaks which he has said could help accumulate $3.5 billion if Labor wins the federal election.

Labor has identified housing affordability as one of the key economic issues of the campaign. Mr Rudd has said the plan would help young people get a foothold in the property market.

Prime Minister John Howard has also been focusing on finances today, calling economic management the key issue of the campaign. He has said rising inflation is "unavoidable" in a strong economy facing pressure from outside forces such as oil prices and the drought.

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