Date Time
Continuing to deliver for Australia’s first home buyers
Helping Australians get into a home of their own and supporting tradies’ jobs are both key priorities for the Morrison Government as we build our comeback from the COVID-19 recession.
The Morrison Government’s First Home Loan Deposit Scheme has delivered for first home buyers by helping them get into their own home sooner with a deposit of as little as five per cent.
As part of the Morrison Government’s Economic Recovery Plan to create jobs, rebuild our economy and secure Australia’s future, the Scheme was extended so that an additional 10,000 first home buyers could purchase or build a new home with a guaranteed loan until 30 June 2021.
The Australian share market finished session at new 11-month highs on Wednesday, 03 February 2021, supported by gains on Wall Street, and as the Reserve Bank of Australia reaffirmed it would hold rates at record low levels for several years.
At closing bell, the benchmark S&P/ASX200 advanced 62 points, or 0.92%, to 6,824.61. The broader All Ordinaries added 63.36 points, or 0.9%, to 7,090.86.
RBA governor Philip Lowe, in a speech in Canberra, reiterated the bank s stance to maintain cash rate at 0.1% and insisted the country will need to maintain very significant monetary support for several years. Lowe s comments came a day after the RBA announced it had expanded its bond-buying program by another A$100 billion to support an economic recovery.
Migration rules reviewed as government looks to fix skills shortage
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Skilled migration into Australia
will be reviewed in a quickfire government inquiry looking for fast solutions to help businesses get the staff they need and grow the economy after the number of migrants crashed during the coronavirus pandemic.
Immigration Minister Alex Hawke asked Parliament’s joint standing committee on migration to review the rules that determine whether people can get a skilled visa to enter the country, with submissions opening on Wednesday.
Liberal MP Julian Leeser’s committee will have less than two months to produce their first report.
A recruitment drive is under way for key roles working on the 2021 Census, and the 550 successful applicants will be earning $37 an hour, plus superannuation.
Thousands of Australians deserted capital cities in record numbers during the September quarter, with Sydney the biggest loser. Capital cities had a net loss of more than 11,000 people from internal migration in the three months to the end of September, according to the Australian Bureau of Statistics. It is the largest quarterly net loss on record, the regional internal migration estimates show. Brisbane gained the most people through net internal migration (3,200) while Sydney lost the most (7,800). In net terms, Victoria did not gain people from any state or territory and lost most to Queensland. Overall, the state of Queensland gained the most people from interstate while NSW lost the most during the September quarter.