The Morrison-McCormack Government’s Economic Recovery Plan for Australia has provided significant support to young people in Cowper despite being delivered during the one-in-one-hundred-year coronavirus pandemic.
Federal Member for Cowper Pat Conaghan said he was pleased the 2020-21 Federal Budget included hallmark measures like the JobMaker Hiring Credit and extending the First Home Loan Deposit Scheme, as they will help young people.
“I know our young people have been hard hit by the coronavirus health and economic crisis,” he said.
“A lot of our young people in Cowper have lost jobs or hours of work in the hospitality and tourism sectors and our senior high school students have experienced major disruptions to the delivery of their education.
“I welcome our Government creating the JobMaker Hiring Credit scheme as it will encourage businesses to hire young people.
“I am also pleased Treasurer Josh Frydenberg invested further in apprenticeships and traineeships through an additional $1.2 billion to create 100,000 new places with a 50 per cent wage subsidy for businesses who employ apprentices.
“And the third budget measure I know will really help our young people is the additional 10,000 places in the First Home Loan Deposit Scheme as this will help some youth get into their first home sooner.
“I know there is still a long road ahead for us to recover from this pandemic and I commit to continue working hard for our youth and for those residents who due to no fault of their own have found themselves on JobSeeker. I am continuing to advocate for a permanent increase to its rate, something in the vicinity of the $125 per week the Coronavirus Supplement is providing until the end of the year.”
The JobMaker Hiring Credit will be payable for up to 12 months and be immediately available to employers who hire those on JobSeeker aged 16-35.
It will be paid at the rate of $200 per week for those aged under 30 and $100 per week for those aged between 30-35. Treasury estimates this will support around 450,000 jobs for young people nationally.
The 2020-21 budget commits $74 billion to new measures to create jobs and extending the First Home Loan Deposit Scheme should generate $800 million in economic activity and boost housing construction.
Port Macquarie resident Sarah Robins is one young person to have already benefited from First Home Loan Deposit Scheme.
Ms Robins, a 34-year-old psychologist, said she would have had to wait several more years to save up the traditional 10 per cent deposit to purchase her first home or have faced the difficult choice of requesting a family member go guarantor on her home loan.
“I wanted to be able to buy my home myself and stand on my own two feet,” she said.
“I had been looking actively at property in Port Macquarie for about 12 months before I brought my first home in the Greenmeadows area.
“Mortgage Choice and the Australian Government’s First Home Loan Deposit Scheme made the whole process so easy and much faster than if I had had to save a 10 per cent deposit.
“I love my home, it’s homely and fresh and it suits my daughter and I as it is low maintenance and in a quiet neighbourhood.”
Liz Spry – 0418 928 744