Means-tests for new home stimulus

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Via the AFR:

Grants to stimulate the residential construction sector will be means-tested to include upper-middle-income singles and couples, and will be in place for only a short period to try to avoid causing a blowout in house prices.

The construction package, to be signed off on Tuesday by the expenditure review committee, is one of several industry-specific packages being drafted by the government, as it moves away from economy-wide broad assistance measures and targets sectors that will take longer to recover, or have fallen through the cracks.

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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.