First home buyers struggling to break into the housing market have been ignored by the Turnbull Government in the 2016-17 Budget which doesn’t include a single initiative to address housing affordability in Australia.
After almost three years in office and three budgets, the fact that the Turnbull Government remains without a housing policy or a housing affordability strategy is an absolute disgrace.
In fact, the only announcement this government has made on housing affordability has been about what they won't do to support first home buyers and those on modest incomes who are desperately trying to purchase their first home but are currently being locked out of an unaffordable property market.
With the Australian Bureau of Statistics reporting that almost 1 million households are now living in rental or mortgage stress there are now many Australians who don't believe they will ever be able to own their own home.
This budget does nothing to support these people to enter the housing market, increase housing supply across Australia or make housing more affordable for low and moderate income families.
The Budget also fails to provide any certainty for homelessness services with no commitment to fund homelessness services beyond July 2017 making it very difficult for services to plan beyond the next 12 months.
Tony Abbott’s annual cuts of $44 million to homelessness capital funding also continue under the Turnbull Government in this budget.
Last night’s Budget was an opportunity for Malcolm Turnbull and Scott Morrison to claw back some credibility when it comes to housing and the affordability crisis, however, they have chosen to ignore that responsibility and instead back the big end of town in sharp contrast to Labor who will always put people first.
WEDNESDAY, 4 MAY 2016
Senator Katy Gallagher is Labor's Shadow Minister for Mental Health, Shadow Minister for Housing and Homelessness and the Shadow Minister Assisting the Leader on State and Territory Relations.