The new package to be detailed in the budget aims to enable states and territories to combat homelessness and repair social housing.
The Albanese government will dedicate $11.3 billion towards three new housing measures of the next five years as it steps upFollowing a late afternoon meeting on Friday of the national cabinet, Prime Minister Anthony Albanese announced a new $9.3 billion, five-year National Agreement on Social Housing and Homelessness to enable the states and territories toThe measures include the Commonwealth doubling homelessness funding to $400 million every year, matched in total by states and territories.
The prime minister’s office was unable to say how much of the $11.3 billion was new and how much was being repurposed from other programs - only that it was all Commonwealth spending.“The governor’s new forecasts this week are consistent with our MYEFO,” he said.Dr Chalmers also said the 3.6 per cent headline inflation figure for the year through to March 31 was “lower than what we anticipated in the MYEFO”.
The responsibility component, Dr Chalmers said, would be an awareness of not putting upward pressure on inflation. In this vein, the government will forecast a second successive surplus. “These cost-of-living pressures are so acute that any help from state governments in taking some of the pressure off the people that we jointly represent is welcome,” he said.“And, more broadly, you know that I don’t take shots at state governments. Everyone’s making the best decisions they can in uncertain circumstances.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2024: Jim Chalmers’ budget could be make or break for LaborJim Chalmers is gearing up for his third and most important budget so far. If he spends too much and stokes inflation, he knows he’ll own the next rate increase.
Read more »
WA Budget 2024: Winners and losers from Rita Saffioti's first effort as treasurerA lower-than-forecast surplus, a Metronet blowout and electricity credits all mark the WA budget. What's in it for you?
Read more »
Budget 2024: Jim Chalmers’ plan to unlock foreign investmentWhile some investors will get a fast track, extra safeguards will be set up for high-risk proposals, like China entities investing in critical infrastructure.
Read more »
Federal budget 2024: Jim Chalmers’ measures must ‘help, not hinder’ RBA’s inflation challengeWith inflation still too high, more than a dozen top analysts have warned that Treasurer Jim Chalmers needs to adopt spending restraint on May 14.
Read more »
Budget 2024: Why Jim Chalmers is ignoring Daniel Mookhey and selling the bigger pictureDespite the global tensions and the national gamble on the “Future Made in Australia”, the treasurer is about to hand down another surplus next month.
Read more »
Budget 2024: Economists dispute Jim Chalmers’ downbeat growth toneLeading economists have dismissed Treasurer Jim Chalmers’ pessimistic assessment of the global economy, and say it should not be used to justify inflation-boosting spending.
Read more »