National Shelter welcomes new research by PwC in a McKell Institute study, revealing budget savings of $11B over 10 years and up to 46,000 new jobs annually if Labor implement its NRAS 2.0 proposal to build 250,000 affordable rental homes over 10 years.

‘The modelling shows the economic benefits on top of the obvious social benefits in alleviating our current housing crisis,’ according to Adrian Pisarski, National Shelter CEO.

This research comes on top of UNSW, Shelter NSW and CHIA NSW research, demonstrating the benefits of governments investing in affordable housing.

‘Investing in affordable housing saves lives but also saves money. This research estimates benefits to government budgets of between $5b and $11B over the course of the program.’

Recently, the REIA and Property Council have been campaigning agains Labor’s plans saying they will hurt the economy, but this research shows the opposite.’

Zhao Jian Kang/""

‘The upfront investment can be made because of the complementary tax reform Labor proposes. Together they make up elements of the National Housing Strategy we have called for.”

‘The research also demonstrates that affordable housing is critical infrastructure as an investment in people rather than the current deficit welfare approaches that have seen the loss of social housing.’

‘We want this program to extend its reach, with the help of state governments, to include social housing so we can eliminate the blight of homelessness in Australia.’

National Shelter has called for a National Housing Strategy which sees housing as infrastructure and involving reforms to tax, planning, investment incentives, a First People's housing strategy and an end to homelessness.

‘NRAS was a successful program which this new program could build on.’ Mr Pisarski concluded.



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