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Budget fails to address housing affordability 
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Budget ignores housing affordability 
Media release for immediate release 

The first Turnbull/Morrison Budget has ignored the issue of housing affordability except to again rule out changes to negative gearing and capital gains tax and dream about the benefits of value capture on infrastructure.

National Shelter Executive Officer Adrian Pisarski said "In a budget struck as a national economic plan there as no plan for housing”.

Housing is the major cost facing  every vulnerable household and this budget offers no relief.

"The budget continues to favour speculative investors over home owners."

“The failure to address this causal factor in house price inflation is a failure to support the home ownership aspirations of generations X,Y and millennials.

“The failure to address the tax treatment of housing locks people in the rental market adding demand and price pressure to rental affordability and adding to the one million households in housing stress.

“Housing is the major cost facing  every vulnerable household and this budget offers no relief”.

Mr Pisarski noted that the budget discusses replacing the National Partnership Agreement on Remote Indigenous Housing with a new remote housing partnership but provides no forward estimate expenditure to ensure it is funded.

Additionally the budget provides:

  • No increase to Commonwealth Rent Assistance to assist renters
  • No increase to public housing funding to provide more public housing
  • No new money for rental affordability incentives to leverage private investment to provide more stock for renters on moderate incomes.
  • No addition to homelessness responses.
  • No new financing option for affordable housing or response to the Senate inquiry into housing affordability or the reform of federation.

“The budget does introduce a compulsory rent deduction scheme for public housing tenants which we think will limit the finial flexibility of those affected, Mr Pisarski said. 

Ends

For further contact Mob | 0417 975 270 Adrian Pisarski 

adrian.pisarski@shelter.org.au

Copyright © 2016 National Shelter, All rights reserved.


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