Budget 2024: Tradies set to cash in as Albo pledges $11.3billion to build ... trends now
The Albanese government will unveil an $11.3billion housing package, predominantly designed to boost the supply of social and affordable homes, as a centrepiece of its May 14 budget.
In a tacit admission that its effort to alleviate Australia's acute housing crisis had not been enough, Labor will inject billions of dollars of additional funding to help accelerate new supply, combat homelessness and assist those fleeing domestic violence with crisis accommodation.
Revealing the announcement following a meeting of the National Cabinet on Friday evening, Prime Minister Anthony Albanese said Labor's 'Homes for Australia' plan would keep the Australian dream of home ownership within reach.
'This budget means more tradies, fewer barriers to construction, less talk and more homes,' Mr Albanese said.
The Albanese government will unveil an $11.3billion housing package, predominantly designed to boost the supply of social and affordable homes, as a centrepiece of its May 14 budget
'This isn't about one suburb or one city or one state. It's a challenge facing Australians everywhere and it needs action from every level of government.'
The lions share of the package will be $9.3billion worth of fresh funds to establish the new five-year National Agreement on Social Housing and Homelessness, with support to be administered by state and territory governments.
Representing a doubling of the federal homelessness funding to $400million a year, the states and territories will be cumulatively required to match the increased commonwealth spend dollar-for-dollar, ramping up crisis support and social housing supply.
Additionally, $1billion will be directed towards crisis and transitional accommodation for families and children feeling violent circumstances as voters demand the Labor government plays a greater role in eliminating family and domestic
