LABOR WELCOMES ESTABLISHMENT OF NHFIC

29 Jun 2018

Labor’s efforts to bring forward legislation on the National Housing Finance Investment Corporation means the new authority can begin its work on 1 July 2018.

SENATOR THE HON DOUG CAMERON
SHADOW MINISTER FOR HOUSING AND HOMELESSNESS
SHADOW MINISTER FOR SKILLS, TAFE AND APPRENTICESHIPS
SENATOR FOR NEW SOUTH WALES
 

LABOR WELCOMES ESTABLISHMENT OF NHFIC

Labor’s efforts to bring forward legislation on the National Housing Finance Investment Corporation means the new authority can begin its work on 1 July 2018.

This will include the establishment of a bond aggregator to assist community housing providers, first called for by Labor in April 2017.

Labor was successful in amending the Senate’s program to ensure the legislation was considered before parliament rose for the winter break.

Despite the urgent need to address the shortage of affordable and social rental housing, the Turnbull Government chose not to bring on the NHFIC legislation in this parliamentary sitting.
Yesterday’s release of the Australian Institute of Health and Welfare’s Housing assistance in Australia 2018 report was a timely reminder of the need for action to improve the provision of affordable social and rental housing.

The report notes that social housing stock in Australia has not kept pace with the growing need in recent years.

More than 189,000 households remain on social housing waiting lists and vulnerable groups such as young people, older women and Aboriginal and Torres Strait Island people continue to experience high levels of rental stress.

Labor also secured a commitment from the Government to debate the legislation in the spring sittings, including Labor’s considered amendment that the NHFIC’s board contains a representative with skills and experience in the community housing sector.

While Labor welcomes the establishment of the NHFIC, we note that the Coalition has failed to deliver national leadership or any substantive policy to address the housing crisis in its nearly five years in office.

This includes the Government’s failure to complement the NHFIC with a policy that bridges the funding gap essential to improving housing affordability and securing better housing outcomes for Australians.

The Government also continues to oppose Labor’s reforms to negative gearing and capital gains tax concessions aimed at improving housing affordability.

Labor has announced a comprehensive set of housing and homelessness policies, and will have more to say in the lead up to the next election.

 
FRIDAY, 29 JUNE 2018 
Authorised by Noah Carroll, ALP, Canberra.