Anthony Albanese’s government announces plan to build one million homes
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Anthony Albanian government announces plan to build one million homes to make housing more affordable for Australians
- Albanian government builds one million affordable homes for social housing
- It said the project will unite governments, builders and superfunds
- Treasurer Jim Chalmers to outline construction timeline in Tuesday’s budget
- The federal government has already pledged $10 billion to build 30,000 homes
- The deficit is expected to be $36.9 billion, much less than the $78 billion in March
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Building one million new homes will be the goal of a Labor plan to bring together governments, the construction industry and super-funds to boost investment in affordable housing.
Treasurer Jim Chalmers will confirm details of the plan when he delivers his first budget on Tuesday evening.
The federal government has already committed $10 billion to its Housing Australia Future Fund, which it says will provide 30,000 social and affordable housing over the next five years.
Anthony Albanese (pictured with his partner Jodie and dog Toto) will make a series of tax changes after his election win that will benefit first-time homebuyers the most
dr. Chalmers said reaching the goal of one million homes would be one of the biggest challenges facing the country and its economy.
“As I travel around Australia and talk to local communities, employers and workers, one of the big challenges we have in our economy is that we’ve created these jobs and opportunities, but it’s getting harder and harder to live near where those vacancies. are,” he told ABC Radio.
“I’ve been working very closely and very hard with pension funds and other investors … with the building and construction industry and with the union movement to see what we can do to move the needle towards affordable housing.”
dr. Chalmers said he would reveal the timing for reaching the target in Tuesday’s budget.
His comments come as figures released ahead of the budget show the outcome will look brighter than expected.
The 2022/23 deficit is expected to reach $36.9 billion, less than half of the $78 billion projected by the coalition government in the March budget.
High commodity prices and strong employment are expected to continue to support the treasury, although this revenue increase is expected to slow down after two years.
But dr. Chalmers said the $548 billion to be spent on health and aged care over the next four years was one of the huge strains on Australia’s budget.
He said he hoped Labor’s renewed focus on health would reduce rising GP waiting times.
“We want to pressure the emergency departments, we want to strengthen Medicare, we want to solve the crisis in the elderly care,” he said.
“Those are very clear priorities … we have a lot of spending pressure on the budget, but we have to invest in people’s health, a healthy community gives us the best chance of a strong economy.”
The budget, which will be presented in parliament at 7:30 p.m. AEDT by Dr. Chalmers, will also highlight new measures of ‘welfare’ and outline a package of support for women.
In addition to care for the elderly and health, care for the disabled and defense are expected to be the largest areas of expenditure.
Opposition finance spokeswoman Jane Hume warned the government against producing a heavily taxing, high-spending budget.
“The coalition has left the budget in a good space … unemployment was very low, tax revenues were up and that’s a good thing and contributed to the budget results,” she told Nine’s Today program.
“Now we want to see a plan to bring inflation back into line with that two to three percent range so that the RBA doesn’t have to do all the heavy lifting…it will take whatever it takes to keep Labor out of their usual trap, which could be disastrous for Australians.’
