Shorten on tourism tour

The Courier-Mail - - NEWS -

is the time where the most prop­erty is bought and sold, but it could be a bad time for first home buy­ers.”

In March, the Aus­tralian Pru­den­tial Reg­u­la­tion Author­ity an­nounced it was in­tro­duc­ing a 30 per cent cap on in­ter­est-only lend­ing for all new loans writ­ten. In­tere­stonly loans are more prof­itable for banks with Mor­gan Stan­ley re­search show­ing they can of­fer dou­ble the re­turn. OP­PO­SI­TION Leader Bill Shorten will be in north Queens­land today spruik­ing his prom­ise for a $1 bil­lion tourism in­fra­struc­ture loan scheme.

Mr Shorten is to ar­rive in Cairns early this morn­ing be­fore head­ing to Townsville in the evening.

It’s part of a two-day whirl­wind tour to pro­mote his prom­ise to cre­ate a ded­i­cated tourism in­fra­struc­ture fund if La­bor wins gov­ern­ment.

Un­der the plan, $1 bil­lion would be split from the ex­ist­ing North­ern Aus­tralia In­fra­struc­ture Fa­cil­ity to be used specif­i­cally to up­date tourism prod­ucts.

The North­ern Aus­tralian Tourism In­fra­struc­ture Fa­cil­ity would of­fer con­ces­sional loans, sim­i­lar to the NAIF, but tar­get age­ing tourism in­fra­struc­ture and pri­ori­tise projects af­fected by re­cent nat­u­ral dis­as­ters.

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