Labor unveils $6.6bn affordable housing plan at national conference

Bill Shorten used his opening address to Labor’s national conference to unveil new subsidies to promote more affordable housing at a cost of $6.6bn over a decade.

Shorten took the opportunity of his opening pitch to the delegates and onlookers gathered in Adelaide for the three-day event to commit to a target of 20,000 houses built in the first term of a Labor government.

The policy, unveiled on Sunday, offers 15-year subsidies of $8,500 a year to investors who build new houses, with the taxpayer support conditional on the dwellings being rented to eligible tenants at 20% below market rent.

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Source: The Guardian