The Opposition Labour Party has promised to pump billions of dollars into social housing as it seeks to address concerns about homelessness and housing affordability.

In his budget reply speech, Opposition Leader Anthony Albanese promised that a Labor Government would established a $10 billion Housing Australia Future Fund, which would use the annual return on investment to fund construction of social and affordable housing.

All up, Albanese says 20,000 social and affordable homes will be delivered over the first five years.

Specific commitments under the fund include:

• 4,000 of the 20,000 social housing properties created over the first five years to be allocated to women and children fleeing family violence along with older women on low incomes.
• Another $100 million to be provided for crisis and transitional housing for these women at risk.
• A further 10,000 affordable housing properties will go to frontline workers such as police, emergency service workers and cleaners.
• $200 million for the repair, maintenance and improvements of housing in remote indigenous communities
• $30 million over the first five years to build more supportive housing and fund specialist services for veterans who are either living or at risk of homelessness.

In his speech, Albanese said the importance of secure housing should not be underestimated.

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

“The home I grew up in gave me and my mum so much more than somewhere to sleep. It gave us pride, dignity and security, and it gave me a future.”

Other promises included:

• $100 million to support 10,000 apprenticeships in new energy sectors such as rooftop solar installation and maintenance, large-scale renewable energy projects including green hydrogen, energy efficiency upgrades to homes and businesses, renewable manufacturing and relevant agricultural activities.
• Incentive payments of $10,000 for apprentices in such sectors.
• A $10 million New Energy Skills Program to tailor skills training to specific needs of new energy industries.
• Establishment of a StartUp Year to help either final year university graduates or recent graduates to learn from experts about how to transform their ideas into products and services.
• A commitment to criminalise wage theft nation-wide, which he says has become part of the business model for some employers.
• Strengthening laws to make it clear that employers must take reasonable steps to prevent workplace sexual harassment.

Speaking particularly of the housing plan, building industry lobby groups applauded the move.

“Last year when the country was in the grip of the pandemic and the economy was locked down, Master Builders in conjunction with the CFMEU, called for a $10 billion social housing stimulus fund,” Denita Wawn, CEO of Master Builders Australia said.

“The Opposition Leader and the Shadow Minister for Housing and Homelessness have listened. We applaud the Opposition’s $10 billion social and affordable housing fund.”

Australian Institute of Architects CEO Julia Cambage said the proposed $10 billion Housing Australia Future Fund, with an annual investment return, has the potential to change the housing futures of tens of thousands of Australians for generations to come.

For too long we have seen successive governments tinker around the edges of social and affordable housing policy,” Ms Cambage said.

“At the same time, Australia’s homelessness and housing affordability crisis has steadily worsened.

“Big, bold new thinking is needed to turn this around. This is what the Institute has been calling for over many years now. It’s what many of our members are focused on, pioneering new models, new partnerships, new ways to make our homes more sustainable and more affordable.

“Housing is a fundamental human right, and we welcome the Opposition Leader’s recognition of this in his budget reply speech tonight.

“The Institute particularly welcomes the focus on constructing new social and affordable housing for the most vulnerable and most in-need sectors of our community.”

“The proposed Housing Australia Future Fund would create lasting assets for the community and ongoing jobs, suggested to be in the order of 20,000 per annum – a very welcome initiative.”

The AIA particularly welcomed the focus around vulnerable members of the community and energy efficient design.

The Property Council of Australia welcomed the housing package but called on Labor to rule out making changes to negative gearing or capital gains tax.