New home buyers should be given a $50,000 handout according to a proposal from the Property Council of Australia.

According to Ken Morrison from the Property Council, there are nine hundred thousand Australians currently employed in the construction industry and some big and bold thinking is required to get the Australian economy going again and as we all know, the construction industry plays an important role here.

That’s why the Property Council came up with a plan, which includes:

Buyers of newly built homes receiving a fifty thousand dollar New Home Boost from the federal government.

Broad-based tax reforms including the axing of State Stamp Duty taxes.

The GST widened in the medium term to include fresh food, health and education.

And a ‘welcome to Australia’ immigration campaign to drive growth and demand for new housing.

Over time we have seen quite a bit of speculation about tax reforms. Negative Gearing and Stamp Duty make their appearance regularly, but it’s rare for something to actually happen.

Let’s see if Covid-19 changes this. In my opinion this is a great moment to pursue a reform, now that the whole country is united, including politics. We haven’t seen too many mud fights between politicians lately, so let’s use this window of opportunity to create an even better version of our economy.