Australia politics live: Bragg says Labor underwriting ‘extremely wealthy’ as date set for help for first home buyers

<p>There will be expanded access to 5% deposits for first home buyers from 1 October. Follow today’s news live</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p><strong>PM to seek meeting with Trump as ‘summit season’ approaches</strong></p><p><strong>Anthony Albanese</strong> and <strong>Clare O’Neil</strong> have taken a venture out to the Canberra ‘burbs this morning, to spruik the 5% deposit scheme.</p><p>[There are] a number of events over the coming months, we’re about to enter summit season, and I look forward to discussions continuing face to face, as they have been constructive when I’ve had discussions with President Trump up to now.</p><p>This is an uncapped scheme which is available to billionaires or the children of billionaires if they want to use a government program. I think we’re getting to a point where Australia is becoming a ridiculous nation where the taxpayer is underwriting mortgage insurance schemes for extremely wealthy people.</p><p>Just because a bird flew over a housing lot in 1971 shouldn’t mean we can’t have houses built today. And that’s frankly what’s happening now.</p> <a href="https://www.theguardian.com/australia-news/live/2025/aug/25/australia-politics-live-labor-housing-first-home-buyers-anthony-albanese-sussan-ley-question-time-ntwnfb">Continue reading...</a>