Just two months after the deal was struck at national cabinet, NSW Treasurer Daniel Mookhey is asking for more money upfront instead of in five years’ time.
NSW is seeking changes to the federal government’s flagship housing package just two months after it was settled at national cabinet, arguing bonuses handed out in five years’ time are useless when the state needs money upfront.
“There is no use providing incentives for housing in five years’ time, which is what the federal government is proposing,” Mookhey told a housing summit convened by the Urban Taskforce, a developer lobby group, on Friday afternoon. NSW completes only about new 47,000 dwellings a year. Federal targets would require it to build 75,000.to 1.2 million. The bonus is a $15,000 payment for each new home a state or territory contributes to the national total above the previous target of 1 million.
“NSW will also benefit from the suite of new measures the Albanese government is introducing, including the $10 billion Housing Australia Future Fund, which together represent the most significant housing reforms in a generation.” Princess Ventura, an economist and the NSW director of planning consultant Urbis, said in terms of expediency and transparency, NSW had “without a doubt the worst planning system in the country, if not the world”.
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