Australia news live: Anthony Albanese and national cabinet agree to build 1.2m new homes
Albanese and national cabinet agree to build 1.2m new homes over five years
Prime minister Anthony Albanese says these reforms are a big deal:
BREAKING: National Cabinet has just announced the most significant reforms to housing policy in a generation.
— Anthony Albanese (@AlboMP) August 16, 2023
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BREAKING: National Cabinet has just announced the most significant reforms to housing policy in a generation.
— Anthony Albanese (@AlboMP) August 16, 2023
And here are some details, thanks to AAP.
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1.2 million new homes to be built in the next five years, starting from July 2024.
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The new target is an extra 200,000 homes than previously pledged as part of the national housing accord target.
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$3 billion to be used for a fund for the states and territories to build the new homes.
Albanese said:
An additional 200,000 homes with $3bn allows for an incentive of $15,000…
