Introduction

Australia’s Labor government said on Saturday it will release A$2 billion ($1.4 billion) to build thousands of new affordable homes across the country as the country grapples with rising costs of living.

Details of the Announcement

Australian Prime Minister Anthony Albanese said the money, which will be used until June 30, 2025, will be transferred to state and territory governments within two weeks to increase the supply of public housing for Australians on waiting lists.

Quote from the Prime Minister

“The Labor government that I lead believes that every Australian deserves to have a home … it will be fully public housing … and this money is for public housing,” Albanese said in a speech in Melbourne.

Government’s Move to Lower Cost of Living

In May, the government said it would put A$14.6 billion ($10.03 billion) into the federal budget over four years to lower the cost of living for families and businesses, pledging that this would not drive up inflation.

Priority Given to Affordable Housing

Albanese called providing additional housing to Australians a “top national priority” in a statement.