Labor vows to slash red tape to turbocharge housing
Housing Minister Clare O'Neil has signalled a second-term Labor administration will move quickly to boost construction.
"We've just been elected with a really clear mandate to improve our housing system in this country," she told reporters on Saturday.
"We've got big reforms to implement, and not a day to waste in getting on with them."
The minister vowed to simplify local, state and federal planning regulations by leading a council of planning ministers.
"If we are going to address the housing needs of Australians, it is going to require the three levels of government to work together in new ways," she said.
She will work with the building sector to implement innovative technologies to move past time consuming and costly methods of construction.
Her comments come after an interview with ABC on Friday where she said "builders face a ridiculous thicket of red tape that is preventing them building the homes we need."
Master Builders Australia CEO Denita Wawn said the cost of building a home had skyrocketed by 40 per cent over the past five years while construction times had ballooned by 80 per cent over the past decade.
"It is critical that we remove the red tape that is hampering our capacity to build homes," she said.
Ms Wawn was hopeful the ambitious goal of 1.2 million homes coming onto the market would be achieved, but said the group's projections showed there could be a slight drop-off.
She argued that along with the focus on reducing red tape, there was an urgent need to apprenticeships and fast-tracking migration for skilled people.
"For the first time, the federal government is leaning in and trying to ensure that there is a focused attention on housing," she said.
But opposition housing spokesman Andrew Bragg said the government's plans were a "joke" and described Labor as "red tape champions."
"Labor's signature housing policy, the Housing Australia Future Fund has built zero new homes in three years," Senator Bragg said.
"Approvals are way down under their watch and their 1.2 million new home target is a dead duck."
The Paris-based Organisation for Economic Cooperation and Development warned Australia on Tuesday to boost housing supply and address falling affordability.
The OECD said easing zoning restrictions would strengthen competition and productivity, as well as raise housing investment to "reverse the long-standing decline in housing affordability".
Breaking ground on delivering 1.2 million homes starts by untangling the maze of bureaucratic approvals, the federal government says.
Housing Minister Clare O'Neil has signalled a second-term Labor administration will move quickly to boost construction.
"We've just been elected with a really clear mandate to improve our housing system in this country," she told reporters on Saturday.
"We've got big reforms to implement, and not a day to waste in getting on with them."
The minister vowed to simplify local, state and federal planning regulations by leading a council of planning ministers.
"If we are going to address the housing needs of Australians, it is going to require the three levels of government to work together in new ways," she said.
She will work with the building sector to implement innovative technologies to move past time consuming and costly methods of construction.
Her comments come after an interview with ABC on Friday where she said "builders face a ridiculous thicket of red tape that is preventing them building the homes we need."
Master Builders Australia CEO Denita Wawn said the cost of building a home had skyrocketed by 40 per cent over the past five years while construction times had ballooned by 80 per cent over the past decade.
"It is critical that we remove the red tape that is hampering our capacity to build homes," she said.
Ms Wawn was hopeful the ambitious goal of 1.2 million homes coming onto the market would be achieved, but said the group's projections showed there could be a slight drop-off.
She argued that along with the focus on reducing red tape, there was an urgent need to apprenticeships and fast-tracking migration for skilled people.
"For the first time, the federal government is leaning in and trying to ensure that there is a focused attention on housing," she said.
But opposition housing spokesman Andrew Bragg said the government's plans were a "joke" and described Labor as "red tape champions."
"Labor's signature housing policy, the Housing Australia Future Fund has built zero new homes in three years," Senator Bragg said.
"Approvals are way down under their watch and their 1.2 million new home target is a dead duck."
The Paris-based Organisation for Economic Cooperation and Development warned Australia on Tuesday to boost housing supply and address falling affordability.
The OECD said easing zoning restrictions would strengthen competition and productivity, as well as raise housing investment to "reverse the long-standing decline in housing affordability".
Breaking ground on delivering 1.2 million homes starts by untangling the maze of bureaucratic approvals, the federal government says.
Housing Minister Clare O'Neil has signalled a second-term Labor administration will move quickly to boost construction.
"We've just been elected with a really clear mandate to improve our housing system in this country," she told reporters on Saturday.
"We've got big reforms to implement, and not a day to waste in getting on with them."
The minister vowed to simplify local, state and federal planning regulations by leading a council of planning ministers.
"If we are going to address the housing needs of Australians, it is going to require the three levels of government to work together in new ways," she said.
She will work with the building sector to implement innovative technologies to move past time consuming and costly methods of construction.
Her comments come after an interview with ABC on Friday where she said "builders face a ridiculous thicket of red tape that is preventing them building the homes we need."
Master Builders Australia CEO Denita Wawn said the cost of building a home had skyrocketed by 40 per cent over the past five years while construction times had ballooned by 80 per cent over the past decade.
"It is critical that we remove the red tape that is hampering our capacity to build homes," she said.
Ms Wawn was hopeful the ambitious goal of 1.2 million homes coming onto the market would be achieved, but said the group's projections showed there could be a slight drop-off.
She argued that along with the focus on reducing red tape, there was an urgent need to apprenticeships and fast-tracking migration for skilled people.
"For the first time, the federal government is leaning in and trying to ensure that there is a focused attention on housing," she said.
But opposition housing spokesman Andrew Bragg said the government's plans were a "joke" and described Labor as "red tape champions."
"Labor's signature housing policy, the Housing Australia Future Fund has built zero new homes in three years," Senator Bragg said.
"Approvals are way down under their watch and their 1.2 million new home target is a dead duck."
The Paris-based Organisation for Economic Cooperation and Development warned Australia on Tuesday to boost housing supply and address falling affordability.
The OECD said easing zoning restrictions would strengthen competition and productivity, as well as raise housing investment to "reverse the long-standing decline in housing affordability".
Breaking ground on delivering 1.2 million homes starts by untangling the maze of bureaucratic approvals, the federal government says.
Housing Minister Clare O'Neil has signalled a second-term Labor administration will move quickly to boost construction.
"We've just been elected with a really clear mandate to improve our housing system in this country," she told reporters on Saturday.
"We've got big reforms to implement, and not a day to waste in getting on with them."
The minister vowed to simplify local, state and federal planning regulations by leading a council of planning ministers.
"If we are going to address the housing needs of Australians, it is going to require the three levels of government to work together in new ways," she said.
She will work with the building sector to implement innovative technologies to move past time consuming and costly methods of construction.
Her comments come after an interview with ABC on Friday where she said "builders face a ridiculous thicket of red tape that is preventing them building the homes we need."
Master Builders Australia CEO Denita Wawn said the cost of building a home had skyrocketed by 40 per cent over the past five years while construction times had ballooned by 80 per cent over the past decade.
"It is critical that we remove the red tape that is hampering our capacity to build homes," she said.
Ms Wawn was hopeful the ambitious goal of 1.2 million homes coming onto the market would be achieved, but said the group's projections showed there could be a slight drop-off.
She argued that along with the focus on reducing red tape, there was an urgent need to apprenticeships and fast-tracking migration for skilled people.
"For the first time, the federal government is leaning in and trying to ensure that there is a focused attention on housing," she said.
But opposition housing spokesman Andrew Bragg said the government's plans were a "joke" and described Labor as "red tape champions."
"Labor's signature housing policy, the Housing Australia Future Fund has built zero new homes in three years," Senator Bragg said.
"Approvals are way down under their watch and their 1.2 million new home target is a dead duck."
The Paris-based Organisation for Economic Cooperation and Development warned Australia on Tuesday to boost housing supply and address falling affordability.
The OECD said easing zoning restrictions would strengthen competition and productivity, as well as raise housing investment to "reverse the long-standing decline in housing affordability".
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
7NEWS
an hour ago
- 7NEWS
‘Substantial doubt' Kodak can remain in business
The almost 150-year-old Eastman Kodak Co says there is 'substantial doubt' about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares in the photography company slid more than 13 per cent in early trading on Tuesday in the United States. 'Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms,' the company wrote in a regulatory filing. 'These conditions raise substantial doubt about Kodak's ability to continue as a going concern.' The Rochester, New York-based company said that it had $US155 million ($239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak chief financial officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
Sydney Morning Herald
3 hours ago
- Sydney Morning Herald
The investment you need to teach your kids about
It's often said that parents can help their children get an early understanding of investing by buying shares that they can track to gain an appreciation of wealth creation and the basics of the sharemarket. It's part of the same school of thought that encourages parents or grandparents to invest in cash accounts on behalf of children to give them a head start in life plus some early money lessons. But bonds are another potential investment alternative for children – and today they are much more accessible to the average population. In essence, bonds offer the potential for higher returns compared with cash. Credit: Dionne Gain The global bond market is, in fact, 22 per cent bigger than global sharemarkets. Its importance in diversified portfolios is highlighted by the fact that big super funds hold large allocations to bonds in most of their investment options. What makes these investments appealing to investors, and how can they contribute to establishing a robust financial future for young Australians? In essence, bonds offer the potential for higher returns compared with cash while generally presenting lower risk than equities. Examples include government, treasury, corporate, and municipal bonds. A government bond, for example, might raise money to fund projects or to build infrastructure. A corporate bond is instead issued by a company and the money used to help fund initiatives that will develop its business. An investor in a bond essentially lends their money to the issuer to complete these activities and receives the interest payment – or 'coupon' – for doing so. The asset class essentially aims to provide predictable income without too many ups and downs in capital value. This may make it a suitable long-term holding for the type of activities that resonate with parents and children – such as funding education, first-home deposits, gap years, holidays or just building savings from a child's own efforts. Bonds, with their slow and steady growth, help instil the importance of patience and the rewards of disciplined investing. Importantly for younger Australians, investing in bonds provides an excellent opportunity for parents to teach their children smart money lessons such as the value of consistency and the benefits of a long-term mindset. Bonds, with their slow and steady growth, help instil the importance of patience and the rewards of disciplined investing. What's more, this hands-on experience with bonds can boost a child's financial confidence and provide the perfect springboard for understanding more complex investments down the track. It's a much gentler – and safer – introduction to the financial world than the often wild ride of cryptocurrencies or speculative stocks. Of course, no investment is risk-free. Rising interest rates, inflation and the potential for issuers to default on payments to investors are among the biggest risks in fixed income.
The Age
3 hours ago
- The Age
The investment you need to teach your kids about
It's often said that parents can help their children get an early understanding of investing by buying shares that they can track to gain an appreciation of wealth creation and the basics of the sharemarket. It's part of the same school of thought that encourages parents or grandparents to invest in cash accounts on behalf of children to give them a head start in life plus some early money lessons. But bonds are another potential investment alternative for children – and today they are much more accessible to the average population. In essence, bonds offer the potential for higher returns compared with cash. Credit: Dionne Gain The global bond market is, in fact, 22 per cent bigger than global sharemarkets. Its importance in diversified portfolios is highlighted by the fact that big super funds hold large allocations to bonds in most of their investment options. What makes these investments appealing to investors, and how can they contribute to establishing a robust financial future for young Australians? In essence, bonds offer the potential for higher returns compared with cash while generally presenting lower risk than equities. Examples include government, treasury, corporate, and municipal bonds. A government bond, for example, might raise money to fund projects or to build infrastructure. A corporate bond is instead issued by a company and the money used to help fund initiatives that will develop its business. An investor in a bond essentially lends their money to the issuer to complete these activities and receives the interest payment – or 'coupon' – for doing so. The asset class essentially aims to provide predictable income without too many ups and downs in capital value. This may make it a suitable long-term holding for the type of activities that resonate with parents and children – such as funding education, first-home deposits, gap years, holidays or just building savings from a child's own efforts. Bonds, with their slow and steady growth, help instil the importance of patience and the rewards of disciplined investing. Importantly for younger Australians, investing in bonds provides an excellent opportunity for parents to teach their children smart money lessons such as the value of consistency and the benefits of a long-term mindset. Bonds, with their slow and steady growth, help instil the importance of patience and the rewards of disciplined investing. What's more, this hands-on experience with bonds can boost a child's financial confidence and provide the perfect springboard for understanding more complex investments down the track. It's a much gentler – and safer – introduction to the financial world than the often wild ride of cryptocurrencies or speculative stocks. Of course, no investment is risk-free. Rising interest rates, inflation and the potential for issuers to default on payments to investors are among the biggest risks in fixed income.
