The Parliamentary Budget Office has raised significant doubts over a Greens’ proposal to spend $10 billion a year on public and affordable housing.
in which the state and federal governments would spend $10 billion a year on public and affordable housing, with the aim of building 1 million homes in 20 years.
The Coalition opposes the fund because it believes it is bad policy. This has put the government at the mercy of the Greens and independents in the Senate. The Greens say the HAFF, even if it realised $500 million in earnings a year as the government envisions, is inadequate. All rental returns would be re-invested into more housing and the governments would own all the properties.
“It is uncertain whether the Trust will be able to achieve land and construction costs consistent with the Australian“There is potential the trust would not be able to meet these specified costs, in which case the number of dwellings that would be constructed and the associated savings from Commonwealth Rent Assistance would decrease, increasing the expected costs of this proposal.”
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