Will's Word: Why govt plans to cancel home loan grants could enrage younger voters

This is a transcript from Will’s Word on Thursday, 23rd of May.

Well there we have it, after a bit of speculation in the media, the Government fessed up and confirmed it was scrapping the First Home Grants effective immediately, leaving many first home buyers high and dry.

As I said yesterday, this scheme was a lifeline for Kiwis struggling to piece together a deposit to match sky high house prices.

It was their chance to break free from endless renting and finally own a piece of the Kiwi dream. But now, that lifeline has been snatched away.

And let's talk about timing – it couldn't be worse. Housing prices are through the roof, and wages are barely keeping up. Yet, the government decides now is the time to kick aspiring homeowners while they're down?

On the flip side though, they are pumping money into more social housing instead which is always a good thing - a great thing in fact, we need more of it.

But the question I ask is why strip away support for first home buyers when there are other places to get the cash?

Like the $2.9 billion tax break they recently handed to landlords perhaps?

It says loud and clear that owning a home is only for the privileged few, while the rest of us are left struggling to make ends meet.

So it’ll be interesting to see what impact this will have on the Government and how voters will respond.

I can only imagine the seething anger and outrage, especially among first home buyers.

…. That’s Will’s Word.