The third Sunday of the 2025 federal election campaign will go down in history as the one where good policy was jettisoned in the race for votes.

Both sides used their campaign launches to unveil a combined $24 billion in plans with little regard to recent economic history, the state of the budget, or what their plans will mean for future taxpayers and future governments.

Labor’s plan to build 100,000 new homes for first home buyers is likely to drive up demand and cost of construction. Credit: Alex Ellinghausen

Remember, both Jim Chalmers and Angus Taylor have been talking at length about the need for fiscal rectitude, what with a deficit of $42.1 billion next financial year and gross debt beyond $1 trillion. But you wouldn’t know it after listening to Sunday’s speeches.

First, the least worst.

The government’s plan to bankroll every first home buyer by reducing their required deposit to 5 per cent and to go on a $10 billion building binge will clearly add to demand.

Yes, the program will increase supply, with the government saying it will build 100,000 affordable homes in the next few years. That is its saving grace, but also needs to be taken with a grain of salt.

Those homes won’t just be plonked down in the........

© Brisbane Times