One million new homes form centrepiece of Labor's first federal budget
In a federal budget focused on curtailing inflation and helping families with cost of living pressures, Labor 'pulled a rabbit out the hat' in announcing a stunning new ambition to build one million new homes over five years.
Housing supply and affordability was a central focus of this Labor government's first federal budget. (Image source: Shutterstock.com)
The federal Labor Government’s first budget was never going to be a lavish spending spree.
Limited by a post-pandemic record deficit and runaway inflation, the emphasis on government spending necessarily shifted towards targets that would ease cost of living pressures without fuelling further inflationary pressures.
With a rental crisis that has rendered homes difficult to find in the capital cities and hammering the economies of regional centr…
