Critics have been vocal about the efforts by government to pump up the property bubble – including the doubling of the First Home Owner Grant, negative gearing and the halving of capital gains tax.
However, there's another measure that seems to have been overlooked.
In a statement on Friday, Treasurer Wayne Swan said:
"Today I announce that I have directed the Australian Office of Financial Management (AOFM) to invest a further $4 billion in high-quality, AAA-rated Australian residential mortgage-backed securities (RMBS) to help smaller lenders continue to offer competitive loans to families and small businesses."
Source: www.news.com.au
