Julie Collins (Franklin, Australian Labor Party, Minister for Small Business) Share this | Hansard source

I want to thank the member for McEwen for that question. He, like so many of us in this place, knows that many Australians are doing it tough when it comes to housing costs, trying to deal with increasing mortgages or increasing rentals. That's why we did even more in last night's budget when it comes to housing, whether it be through supporting people into their own home or through adding to supply.

We announced changes last night to the eligibility criteria for the Home Guarantee Scheme. From 1 July, siblings and friends will be able to join together to buy a home under the scheme. We're also allowing access to the scheme for people who have been out of the private housing market for more than a decade. People who have been impacted by financial or family breakdowns who have been out of the private housing market for more than a decade will now be able to access this scheme. These are sensible changes, and they reflect modern Australia. I have heard some commentary from the other side that they are supporting that. I hope that that is the case when it comes to this place.

We also moved to help Australians struggling to pay the rent with, as we've heard, the largest increase in Commonwealth rent assistance in 30 years. Indeed, we're talking about a 15 per cent increase. Last night we also announced support for build-to-rent projects, to encourage more private-sector investment to increase the depreciation rate on new properties. Of course, we're trying to encourage more international capital into investing in rental homes here in Australia. We're also adding to the supply of social and affordable housing with an additional $2 billion in financing to the National Housing Finance and Investment Corporation, which we hope will soon become Housing Australia. We anticipate that that will provide up to another 7,000 social and affordable rental homes. That is building on the things that we have already announced: our initial $575 million and, in our Housing Accord from the last budget, another $350 million for 10,000 additional rental affordable homes, to be matched by the states—another 20,000 in total. And, of course, the centrepiece of our housing policy is our $10 billion Housing Australia Future Fund.

When you add up the Housing Australia Future Fund, the Housing Accord and the measures that we had last night, we're talking about 60,000 social and affordable rental homes from the federal government over five years. That is double the amount that the Commonwealth and all of the states together built over the last decade. It is incredibly ambitious, and it's ambitious because it needs to be, because too many Australians are doing it tough. I would say to members opposite and to the Greens: tell your senators to support the Housing Australia Future Fund Bill 2023, because too many vulnerable Australians are relying on that bill getting through and on the funding from it.

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