Albanese promises $10 billion fund to cut housing costs

Anthony Albanese delivers his Budget reply yesterday (ABC News)

Tens of thousands of social and affordable housing properties would be built as part of a $10 billion housing future fund promised by the federal opposition. Source: ABC News.

Labor leader Anthony Albanese used his budget reply speech to pledge a Housing Australia Future Fund to deliver 20,000 social housing properties in its first five years.

Four thousand of the homes would be allocated to women and children who are escaping family and domestic violence and to older women who are at risk of homelessness.

Mr Albanese described the properties as places like the council home he grew up in with his mother — a single parent who was receiving the disability pension.

Labor's plan also includes a promise to build 10,000 affordable homes for frontline workers such as nurses, police, and cleaners, who Mr Albanese said were the “heroes of the pandemic”. A portion of the returns made on the future fund would be used for the repair and maintenance of homes in remote Indigenous communities.

The money would also be put towards crisis accommodation for women and children and specialist services for veterans who are experiencing homelessness.

Mr Albanese said a Labor government would provide cash payments to 10,000 apprentices working in “new energy” areas such as rooftop solar, energy efficiency upgrades and green hydrogen.  He also committed a future Labor government to criminalising wage theft.


Labor leader Anthony Albanese promises 20,000 social housing properties in budget reply speech (ABC News

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