0
Anthony Albanese has listed the housing Australia future fund bill as one of four key pieces of legislation Labor wants passed this sitting fortnight. But what is the future fund, how much will it invest in housing and why are other parties sceptical of its benefits? In his budget reply in May 2021, Anthony Albanese promised a $10bn housing fund to build 30,000 affordable homes. The Coalition objects to the bill, labelling it an “accounting trick” to borrow $10bn and spend the proceeds to maintain the program is budget neutral. They have also argued Labor’s off-budget funds are inflationary. The Greens, particularly housing spokesperson Max Chandler-Mather, have warned the fund is not $10bn spent on housing but rather “a $10bn gamble on the stock market where the volatile returns are invested in housing”.
Investors and analysts predict Australian banks could face higher funding costs as a result of the turmoil in global banking, as credit markets grow jittery and lenders compete more fiercely for deposits. Amid a tumultuous period in global banking, including the emergency takeover of Credit Suisse by UBS on Monday, local experts say the most direct impact for Australian lenders could be more expensive funding. This trend could dampen profit margins, some said, while others predicted smaller lenders would be hit hardest because they may need to pay more to attract deposits.
Bookmarks