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Labor Investing In Social Housing, Youth Innovation

by | Fri, May 14 2021

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Labor has promised to build 30,000 social and affordable houses over five years if it wins the next election.

Opposition leader Anthony Albanese used his budget reply speech on Thursday night to unveil plans to borrow $10 billion for a housing future fund.

Investment returns would pay for 20,000 social houses, including 4000 for women fleeing violence and older women at risk of becoming homeless.

A further 10,000 affordable dwellings would be built for health, emergency services and other frontline workers.

“The security of a roof over one’s head should be available to all Australians,” he told parliament.

Labor expects 21,500 full-time jobs in construction and the broader economy will be created in the first five years, with a guarantee one in 10 on-site workers will be apprentices.

Mr Albanese’s budget response included a pitch for Startup Year, a program helping up to 2,000 of the nation’s most promising entrepreneurs commercialise their ideas and university research.

Under the proposal, students would have access to loans of up to $11,300 through the HELP system to cover costs while participating in an accredited accelerator program.