Australian PM pledges $1.4bn for affordable housing

SYDNEY, June 17 (Reuters) – Australia’s centre-left Labor government said on Saturday it would commit A$2 billion ($1.4 billion) to build thousands of new affordable homes across the country as the country grapples with rising of the cost of living.

First Minister Anthony Albanese said the funds, to be used by June 30, 2025, will be released to state and territory governments within two weeks, with the aim of boosting public housing supply for Australians on deprivation lists. wait.

“The Labor government that I lead believes that every Australian deserves the security of a roof over their head,” Albanese said in Melbourne.

“One hundred percent will be public housing, this is public housing money.”

In May, the government said it would include A$14.6 billion over four years in the federal budget for the relief of the cost of living of families and companies, which he promised would not fuel stubbornly high inflation.

In a statement, Albanese described securing more homes for Australians as a “key national priority” and said the additional funding brought government investment in the area to more than A$9.5bn in FY23.

Separately, the government wants to establish a fund of 10,000 million Australian dollars housing fund build at least 30,000 new affordable homes, but has faced opposition in the parliament of senators from minor parties.

In June 2021, there were 417,800 households in the main social housing programs, including public housing, up from 378,600 in June 2008, according to government data.

($1 = 1.4541 Australian dollars)

(This story has been corrected to fix the financing value in the title and paragraph 1)

Reporting by Sam McKeith; Edited by Stephen Coates

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