polies added fhob to treasury stimulus package

It is interesting to read today claims our 2008 stimulus package designed by treasury didn't include the First Home Owners' Boost, and it was our politicians that added it.

"The GFC stimulus was well handled with the exception of one policy. When Treasury sent its proposed stimulus package to Cabinet, there was no First Home Buyers Grant boost in it. It was added by the pollies."

http://www.macrobusiness.com.au/2012/11/whos-to-blame-for-dutch-disease/

While the author won't reveal his sources, it does explain now why Treasury Executive Minutes dated the 26th Feb 2010 indicate :

"The FHOB was announced 14 days after the FHSAs became available as part of the Government’s first stimulus package designed to counter the effects of the global financial crisis. This short-term stimulus was designed to encourage people who had already been saving for a home to bring forward their purchase and prevent the collapse of the housing market. Contrary to this measure, the FHSA is designed to encourage saving over the medium to long term."

One has to wonder what the plan is now that all the demand has been brought forward to prevent the collapse of our housing market. No wonder mortgage credit growth is at decade lows.