Labor’s ‘revolutionary’ super-housing plan garbage


Last month’s federal budget announced a “new housing accord” that would aspire to “build one million new, well-located homes over five years from 2024”.

According to The Australian, industry super giant Cbus has committed half a billion dollars to support the Albanese Government’s Housing Australia Future Fund, which Wayne Swan, chairman of CBUS, said would help deal with the ­country’s “diabolical” afford­ability issues:

In a major win for Jim Chalmers following his inaugural investor roundtable in Sydney on Friday, Mr Swan said “our common purpose today is to meet our obligations for appropriate risk-adjusted returns for members, but we should also bear in mind that our members are many of the same people who are struggling in the housing market”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.