Albo vision for housing

Labor unveils a $10bn plan

ABOUT 10,000 affordable homes for frontline workers would be built as part of a $10bn housing future fund established by a Labor government.

Anthony Albanese unveiled the plan in his budget reply speech on Thursday night, which would also build 20,000 social housing properties over five years, with 4000 set aside for women who are fleeing family violence or are at risk of homelessness.

The Labor leader’s other new commitments included $100m for 10,000 apprenticeships in renewable energy businesses, new laws to criminalise wage theft, and a positive duty on employers to take reasonable measures to prevent workplace sexual harassment.

Mr Albanese said his Housing Australia Future Fund would create 21,500 jobs every year and deliver a $34.8bn economic boost to the economy.

Frontline workers including nurses, police and cleaners would be prioritised in an effort to ensure they had affordable housing when working in areas where they could not otherwise afford to buy property.

“The security of a roof over one’s head should be available to all Australians,” Mr Albanese said.

The off-budget fund would be managed by the Future Fund board of guardians, chaired by former treasurer Peter Costello, with investment returns reinvested in future housing projects.

Apprentices supported by Labor’s new policy would receive up to $20,000 from the federal government upon starting their job, plus $2000 a year for four years after that.

The program would support roles in rooftop solar installation and maintenance, energy efficiency upgrades for homes and businesses, large-scale renewable projects, green hydrogen and renewable manufacturing.