ScoMo’s sub-prime FHB guarantee rises

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Via Ian Rogers at Banking Day:

The First Home Loan Deposit Scheme will kick in from 1 January 2020, allowing up to 10,000 borrowers a year to benefit from guarantees for lenders from the Australian government.

The National Housing Finance and Investment Corp will administer the scheme, with a bill to enable this policy introduced to Parliament yesterday.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.