Shorten on tourism tour
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.